Transcription
[Music]
Welcome to the smartest decision you've ever made. Hustlers University. This is the smartest thing you've ever done. If you're sitting there wondering, you should already know, but if you're sitting there wondering, "Hmm, is it just going to be worth it or not?" buckle the [ __ ] up. This is the smartest thing you've ever done because this is the first time, besides the PhD course, where I'm going to lay down all of my knowledge in the world about a particular subject. PhD course was girls. This is going to be about business. Everything I know about making money.
So the way this came around was, I was convincing yet another person to not go to university. I have convinced, well, I don't know if I've actually convinced them, but I often say the biggest mistake people make in their lives is traditional education. It's a waste of time. It's a scam. And I always tell people why it's a waste of time, why it's a scam. Like, there's a double inflation principle that I coined myself. The fact that more degrees exist every year, which inflates them because they're less valuable because more exist. Plus, the price goes up every year, which means it's less valuable because it's more expensive. If more exists, the price should go down. Scarcity and value are linked. But there's some kind of double inflation that goes on with education, which is propagated by the mainstream think tanks because they want to put you in there and they want to brainwash you. They want to put you in there and turn you into a [ __ ]. Not actually teach you anything that's useful, just turn you into a little worker drone. Nobody goes to university and leaves knowing how to get rich. And if you look at all the richest people in the world, or all the most successful people, they'll say, "I didn't go to school," or "I quit university," "I dropped out." Because you're not learning anything about getting rich. You're sitting there just being brainwashed. It's [ __ ].
So when I was sitting there saying to this person, "Don't go uni, don't go, don't go uni," they said, "Well, what do I do instead then?" I said, "Learn from me." And they said, "Oh, okay. Well, what do I learn?" And so, "You can join the War Room, you can learn there." So, "Okay, yeah, I'll join. But is there anything else?" I thought, "You know what? I'm gonna start my own university. I'm gonna give people a genuine option, a genuine alternative to mainstream education." I don't know about you, but me personally, all I ever want to do is get rich. I didn't give a [ __ ] if I got rich breaking rocks or got rich being a professional fighter. I didn't care. I want money. I was not passionate about some business. I was passionate about money. And money, money only.
So if you've joined this course to learn how to run a business and get rich, congratulations. You're about to learn a whole bunch of [ __ ]. Because I've run a bunch of companies. You're going to find out during the length of this presentation, this is no-nonsense, no fluff, no doubt, the hardest-hitting presentation given by a multi-millionaire on how to make money in history. Because all the other multi-millionaires are lying to you. They're lying to you by talking [ __ ]. "Tai Lopez, if you read books, you'll be rich." Lie. You can read books all day, you're not getting rich. That's a lie. These other [ __ ] nerds think, "Positive if you'll be rich." Another lie. What do you mean, "If I read books and I think happy money appears in my bank?" No, it does not. This is garbage. We're cutting the garbage. We're getting down to it with 100 points, 100 business lessons I've learned across my business career.
So as I said, if you've just made the decision to join the university, congratulations. Your worldview is about to change forever. I don't have a seatbelt on my chair, but I'm ready. If you have a seatbelt in your chair, put it on. If you don't, hold on tight. We're about to get rich right here.
Hustlers University Lesson One. I've even got a whiteboard for you [ __ ]. That's how hard I've worked on this university project. Whiteboard markers. Lesson one: Speed.
Now, I tell this to everybody all the time, and nobody understands what I'm trying to say. I'm gonna try and articulate it. Speed is extremely important in business. Everything that needs to be done must be done fast. That doesn't mean it has to be done cheap or [ __ ]. It means it has to be done quickly. People seem to conflate the two, that if you do something quickly, it must be terrible. That's not the case. When you're a professional fighter, you learn to punch. Your instructor says, "Faster, faster, faster." You learn to punch faster. You don't degrade your punch. You don't start punching like an idiot. You keep the same quality of punch, but you do it quicker.
Now, nobody in the world, the modern world especially, and I'm going to say this as a caveat that I've learned across my career as well, especially if you're dealing with creative people in any kind of regard, they don't understand speed. Numbers people kind of understand speed. Creative people don't understand speed. And this is their, they have a strength and a weakness there. With creative people, they have something I don't have. They're very creative and they can see things I can't see, but it takes time. I'm the complete opposite. I want everything done straight away. Now, but speed is super important for a business, and I'm going to tell you why.
So whatever you're thinking of doing, whatever the business you're thinking of running, you need to do things quickly. If an airplane, everyone knows how planes work, is flying through the sky. Arrow. Beautiful demonstration for you there. A beautiful [ __ ] diagram. Even if its engines fail, it will continue to fly. If the engines fail, it will not fall out of the sky and instantly crash to the ground. It will continue to fly. Do you know why? Because it has forward momentum. It's going forward. And that means the wings are creating lift. Air is going underneath the plane. As long as the plane goes forward, it will not fall and fail. And a business is exactly the same. The key with business is to make sure you're always moving forward, always producing content, and always doing everything you can as quickly as possible while maintaining the quality. Do not conflate quality with speed. You can do the same.
If you have an idea right now and you have someone you're working with, let's say you need a new website. You tell the company, "It's gonna take two weeks." No, it's not gonna take two weeks. It'll take three days. "We're gonna find someone else." "We can't do it in three days." "I'll find someone who can." You can build a good website in three days. People have unrealistic, stupid timeframes. Everyone thinks things take forever. Things don't take forever. Things can be done quickly. I know because I've done it. I've pushed people or done it myself and seen what's gonna be done. You know what? I could do in two weeks. Me, as a man who knows nothing about web design, in two weeks, I could learn web design and build a website. And I know nothing. So how the [ __ ] can you, the guy who knows websites, take two weeks to build a [ __ ] website? It's garbage. Everyone is slow, and being slow is deadly to a company for two reasons.
One, the faster you get things online, the faster you start making money. Now, if you make money today because you were in a rush, let's say you quickly push and you get online today and you make money, that's one universe. And another universe where it takes a week and you get it online. That week of making money is gone. That money is lost. The longer it takes to get something online, the less money you're gonna make as a whole. If I start a company today to the end of my life, and start a company next month at the end of my life, the one I start today has been running longer, it's gonna generate more money. The quicker things are done, the quicker money is made. It's as simple as that. That's starting a company. Even if a company is already online, speed is super important.
Once again, I'll give you an example. Let's say, uh, I don't know, producing an advert. The faster you produce an advert, the faster it's out, the faster you get results. If you do it quick enough, you might be able to produce two adverts in the time that other people take to produce one. Now you have double the advertising that other people have. Speed. You have to attack and you have to move quickly.
When I talk to people, people say to me all the time, "I have a business idea." I'll say, "Okay, cool." A week later, I'll say, "How's your business?" "What business?" "You have an idea and it's been a week. Where's your [ __ ] company? Where's your business?" It's been a week. You ain't done [ __ ]. People are lazy. People are slow. People are complacent, including you. Everything must happen instantly, quickly, fast. Speed. Attack. Hitler conquered Europe with Blitzkrieg. You need to go quickly. I cannot emphasize this enough. Lesson one: Speed is important. Nothing can be slow.
I'll tell you another quick story about this lesson. I used to run a company. So you're going to find out about a whole bunch of companies I ran and I've run in my time during this presentation. So my work history is long and varied, but I'll give it a very short version. There was a job selling television advertising that required a degree, a degree in marketing, to sell TV advertising packages. It was cold calling. This is a long time ago, I was 20. 13 years ago, before email was a thing. You'd get on the phone, you'd call people up, marketing manager, "Hi, my name's Andrew Tate. I'm calling from uh, Tristar Television. I'm interested in, da da da da. You're interested in putting your brand on TV, blah blah blah." Old school sales. Which anyone, if you've not done a sales job, and if you are gonna look for a job, do a sales job. Because once you learn to sell, you're gonna be alright. And you're always gonna be looked after by the company because you bring the money in. They're gonna give you a nice car, a nice office, whatever.
So anyway, I went to apply for this job. They said, "I need a degree." I said, "I don't need a degree." They're like, "Why didn't you go to university?" I said, "Cause I ain't got four years to waste in school. I'd rather get four years of experience out here working jobs. I'd rather have real experience and money in my pocket and learn the hard way than go to some school and sit around and drink alcohol and do drugs like all these other university graduates are." "I'll work for free for one week. And if you don't think I'm good, don't give me the job." That's what I said. I worked for free for a week, and they gave me the job because I'm a G. So there you go. That proves how pointless uni is. I got the job above all the graduates because I was prepared to do one week's free work. Well, it's better to do one week's free work than four years free work while paying money to go. The [ __ ] is that waste of time.
So I got this job at Tristar. I'm there. I break the company sales record in the first month. How? Because I was just on the phone. Hard work. Just calling, calling, call. I would call everyone. Everyone in the office would laugh at me because we were a real small business. We were really small in terms of television advertising, uh, standards. And I would call the companies like McDonald's, like the huge companies that we never stood a chance of getting a deal with in a million years. I'd call everyone. Tenacious. I'd get the newspaper and go through it. Anyone who put an advert in, that means they had an advertising budget, means they had a marketing manager. Call them. Call them. Call them. So I broke the company record in the first month. I landed three 40 grand deals. 120 grand abroad. And 10 turnover, 10 commission, 12 grand for me. I was 20. Got 12 grand. I didn't have never kind of money in my [ __ ] life. I couldn't believe it.
Turns out the top salesman there, besides me, because I broke the company record for the first month, uh, I didn't break the company records total, but just for the first month, the best salesman there was a guy called Dan. You're going to hear about Dan a lot. So he taught me a lot about sales and business. He wanted to start his own TV company. So I'd only been there a month now. I'm having lunch with Dan, the number two in the company, and he's saying, "I'm gonna go start my own TV company. I want to make you a managing director." I've been doing a month. I'm 20. Now I'm gonna be a managing director of this company. But I have 12 grand in the bank. So I have a bit of money to sit on. I'm like, "Yeah, [ __ ] it. What's the worst that can happen?" [ __ ] it.
So I only worked for this company a month and a half before I quit and start my own TV company. I'm 20. I own 50% of a TV advertising agency. Turns out Dan is a massive cocaine addict and basically left me to run the entire company. That's why he wanted me. He wanted me to do everything and him just go out and take the money from the bank and do cocaine. So at 20, I ran the entire company. Now, for a year and a half, this company functioned. And this company functioned by selling the cheapest television advertising that ever existed. So what we would do was, let's say we would, we would charge people 18, 19,000 pounds, and that would include a fully produced advertisement from start to finish and their airtime on TV, and all the legalities to get them on TV. You have to go through the advertising standards, everything. That was a complete package with like 150 adverts on TV for like 18 grand. And we were, we were calling up, calling people on the phone, me and Dan. Eventually, we hired Tristan. Ended up with like 10 members of staff. Cold calling, calling the world, promising television advertising at this price.
Now, how does this all link back to Lesson One: Speed? I'll tell you how. Because on an 18 or 19 grand package, we were only making two grand, three grand. We weren't making any money on it. In fact, a lot of the deals we were losing money or breaking even. But we were just trying to build up a customer base. We were just going into meetings saying, "Here's our clients," and showing a list of clients. People like, "How the [ __ ] these young guys got all these clients? They must be some kind of young marketing geniuses." So people thought we were, but really, we're just selling it too cheap. So we had all these clients. So how did we stay alive for a year and a half before it finally blew up in our face? Speed. We were robbing Peter to pay Paul. So we were getting money in. I bought a brand new car. Dan had a brand new car. We had this big fancy office. We're paying wages, but we didn't have some money. So how do you pay to put the person on TV? Well, you get a new deal. You get a new deal. You get a new deal. So you're paying for old deals with new money. But the key was, as long as we kept the speed going, as long as we kept the speed, as long as we kept pushing forward, we were never out of business. We didn't even need to make profit. We just needed to get money. If you could just find a way to get money into the bank, you don't even need profit. We were doing two deals a week. In our first year, we turned over nearly a million pounds. I'm 20. I've got a million-pound business. But there was no profit. It was just brand new deals so we could put the old deal on TV. And eventually, you get deeper and deeper and deeper and deeper into the hole to get to the point where you owe [ __ ] loads of money, which is what happened.
Now, this business would have still lasted another two, three years. And this business, I learned a very valuable lesson, which we're going to come to later when it comes back to this business. So pay attention. But I learned a really important lesson in this business. But this business would last another three or four years except I took a one-month holiday to go training kickboxing in Thailand. I was still training at the minute. I wasn't, I wasn't a world champion by then, but I was still a professional fighter. I was training. I took a one-month holiday. During my holiday, Dan just did [ __ ] loads of coke from the company bank account, just emptied the company bank account. No deals were landed, and it all blew up in our stupid faces. Law [ __ ] court cases, everyone taking us to court. I was literally, I was 20. When you're young, you're scared of things. There's bailiffs at the door. We've lost our office. I was literally sitting there. I couldn't sleep. I was panicking. I didn't know what to do. Everything [ __ ] blew up in our stupid faces.
But if I could go back in time and I didn't take that one-month holiday, and I would have kept it running for another three or four years, and if I knew then what I know now, some of the other lessons I'm going to teach you, this would have made me a millionaire at 20 years old. So speed. If you are moving fast, you cannot fail. The name of this company was T2 Television. T2. T2 Television proves speed wins. Get the money in. Get a deal. Produce the advert. Get it out. Get someone else in. Get money now. Speed. "No, we can't wait." "Wednesday meeting?" "Oh, next Wednesday?" "No, it's not next Wednesday, it's tomorrow." "Tell them we'll go there tomorrow." "They can only travel to us next Wednesday." "We'll go to them tomorrow. We have to close the deal now." Money, money, money, money, money. Now. Speed. I cannot emphasize this enough because it is my entire business philosophy. If I had to give you one important point, this is the reason. This is the first point: Speed. And everybody is slow. And if you start to work like me, you'll realize everyone's slow. And that's okay. But things must happen quickly. It's extremely important.
The second point of the university. Most of you don't know what a business is. A business is money in. A business is nothing else but money in. It's not money out. It's not your accountant. It's not your logo. It's not your website. A business is money into a bank. So a drug dealer who has money going into his pocket is more of a businessman than someone with a registered trade logo and an accountant and all this garbage who ain't getting paid. You own a business if you're getting paid. That's what business is. So please understand this point because this is a very important point. And this is why this is called the Hustlers University because you need to understand how to look and approach a business.
So cash is first. So let me give you an example. People, I say to people, "Start a company." "Start." "How would you start a makeup company?" And they go, "Okay, well, I find some makeup, and I'd get a logo, and I would uh, start a trade. I'd get a trademark. And then, you know, I'd need stock." Listen to all the things they're mentioning. "Find makeup." We're gonna have two things: we have things that cost money and things that make money. As a business, your primary concern is always making money. And when people think of how to start a business, all they start thinking about is how to spend money. "Oh, I need to find a makeup brand. I find some makeup and test it out, and then get a logo, and get some labels made, and get a warehouse, and and get a website, and da da da da da." Spend, spend, spend, spend. Where's the money in? Where's the money? This is a business. Where's the [ __ ] money? You're talking about spending money. I'm talking about making money. So as a hustler, you always have to be about making money. Money in is a business. Not money out.
The amount, amount of people I've spoken to said, "I have a business." I go, "What have you got?" "I've got this, and I've got a registered trademark, and I own this, and I know you've all watched Dragons' Den, you think this shit's important." With your registered trademark, and you own this, you've got the logo, and you've got the labels, and you've got the product, and you go, blah, blah, blah. You're not making any money. No one's paying you. It's not a business if no one pays you. It's a business when people are paying you. Until then, it's circle jerk [ __ ]. It is much better to have this right and this wrong. Understand me. It's much better to have this right and this wrong than the other way around. That is extremely important for you to understand.
If I had to start a makeup brand, I would do none of this. Zero. You know what I do? I'd make a website with makeup on it and prices, and I'd start advertising. Bang. Now I'm making money. I'm making money. I'm getting orders. I don't have any makeup. I don't have a warehouse. I ain't got a logo. I got, oh, I got trademark logo. I ain't got nothing. But I'm making money. With money, you can fix the problems. So when I've got money in my bank, then I email everyone, "The product you've ordered, the one you're interested in, is in such high demand that we're sold out. There'll be a slight delay in delivery of your product, but don't worry, we're gonna give you one for free, or we're gonna give you a free gift. Thanks for being a valued customer." Now, this person's gonna wait. They're like, "Free gift? Okay, I'll chill. I'll wait." Now you have three or four weeks to find some [ __ ] makeup to put in the [ __ ] mail. But at least you got money. You got money in the bank. You spent none of your own money, or hardly any. You got money coming in, and now you gotta find a way to fulfill the orders. That goes back to business lesson number one: Speed. Now you gotta quickly find some makeup, find a logo, stick it on, put it in the [ __ ] mail. But doing that makes more sense than this. What do you do? All this [ __ ] and then you try and advertise and no one buys. Then you've lost. If we do it my way, I advertise, no one buys, I ain't lost anything big. Whoop, who cares. No one wants my makeup. Oh well. Good thing I don't have 500 boxes of it sitting in my [ __ ] bedroom like you dorks.
A business is money in. When you want to start a business, your number one concern is how do I get money in? Nothing else. Everyone who starts a business starts talking about everything else. "We need an office." Why do you need an office? No one's paid you yet. And you're talking about an office. "I need a new laptop." Why? No one's paid you yet. You're talking about a laptop. You don't need anything until people start giving you money. Money in is a business. Money out is vanity. It's very easy for me to think of a business: buy an office, buy laptops, hire staff, get an accountant, sort out the tax records, register the company online, get business cards, get a logo, and get that trademarked. And I'm doing all this [ __ ]. I'm spending all this money, wasting all this time, and no one's paying me anything. It ain't a business.
When you come at me with a business plan, my first question is, "Where's the money?" When you want to start a business, the first question is, "Where's the money? How are you gonna get paid? Is it PayPal? Is it Stripe? Is it Bitcoin? How are you gonna get paid? How can people pay you? And how are you gonna convince them to do that? How are you gonna convince them to pay you?" When you've worked that out, you can work the rest out. A business is money in. Nothing else. That's lesson number two. And that is extremely important because it's gonna save you a bunch of [ __ ] ups in the future.
This leads on to idea number three. The third lesson you'll learn in business is super important. I've kind of covered it when I discussed two, but this is very important. Start ideas for free. People come to me all the time, "Andrew, I have an idea for a business. Maybe you need a small investment." It's normal. Let's say you're developing an app. You need to invest in the app or something. That's that happens. But a lot of people ask for insane amounts of money. 50 grand, 100 grand, 200 grand. "Oh, to start my business." You can start businesses very, very cheaply if you do it the right way.
Let's look at our beautiful demonstration, our beautiful diagram here, of our makeup company. If you start a makeup company this way, you need minimum 200 grand. You need an office, you need logos, you need trademarks, you need stock, you need staff, you need company incorporation, you need tax, you need accountants, you need advertising budgets. You need 200 grand, 200k to start this business. If you start a business this way: make a website, put some pictures on there, pretend you've got a whole bunch of stuff you ain't got, and start getting money in. You can start this business for five grand. Let's say, for the website, five grand. That's 195 grand difference.
Now, the problem with this business is you're going to start getting money in, and you're not going to have any way to fulfill the orders. But back to business lesson number one. Because you're a fast worker, because you're industrious, because you work with speed, you'll find a way to fulfill the orders. Hey, listen, worst case, you give them the money back. Worst case, you refund them. But at least with this idea, you can test the viability of your plan. One, and two, you're not in the hole. So let's assume both companies are bound to fail. Here, you've lost five grand. Here, you've lost 200 grand. Why risk all that money when you can do it cheap?
Also, with five grand startups, you can now, for the same price as starting one company, you can now start 40 companies. One of them's gonna work because they're five grand each to start. One of them is going to work. So you have to learn that the idea of starting a business is not expensive. Get that out of your head. I'm a millionaire, a multi-millionaire, and I will not spend more than five grand launching a company. Five grand max. I'll spend five grand. And if I see money coming in, maybe I'll invest some more. Or when the money starts coming into the makeup company, you might reinvest all the money. That's fine because I ain't your money. That's money you're making. You can build a company off the money you're bringing in from the company and never spend your own money. That's how you launch a company.
Now, every time I say this, people go to me, "Oh, well, what about this? What about that?" If you're going to launch a [ __ ] airplane company and try and compete with Boeing, you need money, obviously. But I'm talking about for you guys out there. This is the Hustlers University. If you're looking at making money, starting a new company, or you already have a small company, the some of the biggest mistakes you can make is investing lots of money when you're broke. It's hard to make mistakes because you don't have any money to lose. When you're rich, it's easy to make mistakes because you have a lot of money to lose. Start companies as cheaply as possible, basically for free, by prioritizing money in and not prioritizing fulfillment. That way, you get to start companies cheap, you can start a lot of them, you have money coming in the door, and you can reinvest money you're making in your company and build your company from the ground up.
Every company I ever made, including T2 Television, was done this way. When I got my first deal for T2 Television, I had a Blackberry and a business card, and I went to their office and I signed the deal. I had a business bank account that was free, no tax incorporation, nothing. They paid me, and I used that money to buy an office. Done. I started a television advertising agency like this. I didn't get an office first, office, staff, computers, desks. I didn't have any money. I had the 12 grand from the commission, but I was saving that for myself. Okay, so all went wrong. I could have blown my whole 12 grand and set up the office, but no. I bought a laptop. I had a laptop. I bought a Blackberry. Had a business card. Landed my first deal and set up my whole business off of money already coming in. And if you can do that with an advertising agency, you can do that with nearly anything. This is television advertising. This is like premier [ __ ] back in 13, 14 years ago, before the internet was big. Almost everyone wanted to be on TV. That's how you start companies. I start an advertising company with a [ __ ] Blackberry. This is how this allows you to start more businesses and allows you to see what's viable and what's going to make money and what isn't without risk. It's extremely important you approach businesses this way and not businesses this way. It is extremely important. Get this in your head. These first three lessons about speed, about money in being priority over everything else, and about starting businesses with this focus as opposed to the cost focus, money in as opposed to fulfillment. That's good. I've already taught you more you're gonna learn about business anywhere else. That's key because if you do things this way, it's very hard to have a monumental [ __ ] up. It's very hard to lose money. And also, now you can start nearly any company. You can start nearly any business.
Give me a business name. Something completely random. A record label. You want to start a record label? So, record label. What do you have? We have make, and we have costs. So, a record label makes money by selling records, correct? I'll never run a record label, so I might be wrong. So you have to sell records. Now, a record label is a digital product, so it's actually harder to make up because how can you sell records you don't have? So what I'd be looking to do first thing is test my distribution channels. So, costs. You need to find records you can instantly supply. Unlike a makeup company, so you need to find artists which are, I wouldn't say struggling, but there's certainly, you need to go out there and find some artists which you don't want money up front. So you just work out some kind of commission deal with artists and say, "Look, we're gonna give you X amount on the basis of the sales." So you have to find, we're gonna put broke boys because it doesn't, you know what, at this point, especially with a record label, although you need good quality artists to have a good reputation as a record label, if you have [ __ ] ones at the beginning, it doesn't really matter. If you have some [ __ ] ones and you sign Rihanna later on, it's even gonna be like, "Oh, they have Rihanna now." But three years ago, they had that crap band no one's heard of. They ain't gonna care. It's not gonna damage your reputation. So at this point, you can just get broke boys. Get broke boys. Offer them a commission deal to make, to to try and sell records. So let's say we're selling a record for a pound. Let's say it's a 50/50 split. 50/50. Now you've got distribution channels. How you going to sell the records? Where you going to sell them? Apple Music, Spotify, whatever, whatever. You have to test the distribution channels. Test them out. Test out an independent distribution channel. So let's say you do all the traditional distribution, traditional stuff, and let's say you want to try and sell some stuff independently. So let's say you start a website, or you go on, is MySpace still a thing for music? No. What's the other one? Um, yeah. So there's a few other abstract ways you can try and sell money. You try and sell records, let's say through their own website, or through SoundCloud, through some of the other ones. You can try some abstract uh methods.
Now, here's what I would do. I'm running a record label. I find broke boys. Broke boys agreed to go 50/50 split. I promise to sell loads of records. You have to promise. This is your job. So I promise to sell [ __ ] hundred thousand records a month. Some [ __ ]. I promise. I lie. This is what I do all the time. No big deal. 100,000 a month? Easy, easy, easy. I get them. I put them across all the distribution channels. I see how much, how many we sell. If we don't sell any, do you know whose fault it is? The broke boy's fault. I'll come back to him and go, "Okay, well, yeah, we have two of your songs. It's not enough. People don't know who you are. We need to produce some content." So to raise your profile, I don't know if you guys have any videos of you performing live. We need more music we can put out there. And I will just continue to extract from the broke boys more videos, more songs, all for free. All based on a commission deal. And just put it out there. Speed. Just like we said in number one. Like I said, I've never run a record label in my life. Just come off the top of my head. Speed. Give me more. Give me more. Give me more. The more they produce, the more they give you, and the more you put out there. It doesn't matter if you sell a little bit of each. You're gonna start to make money. Look at what we do and what I do. All my different businesses at this moment. I run CobraTech.com. I have the War Room, which is a business in itself. I have the webcam business. I have two YouTube channels. I have casinos. All I do because it's just scat, just a speed scattergun.
So in this kind of particular, if you're gonna do a record label, you need to have as much as possible, video and and music that you can that you can afford. When I say afford, a commission-only deal. Just constantly, constantly put out there. Speed. On every single possible distribution channel. That's what you need to do. Then what you do is when you have these boys everywhere, broke boys, the broke boy record band, you have them everywhere, and you have tons of their stuff. Then you can approach someone who's not [ __ ] or a little bit better. So we have the less broke boys. Less broke. All right, here's my terrible writing because I'm writing at an angle. And when you go to less broke boys, you could say, "Well, look at the broke boys. We've got them on Spotify, SoundCloud, they're on their own website selling, they're here, they're on iTunes, they're there. Look at this. This is some videos that they're performing. Yeah, we use these for promotion. They're on this YouTube channel, they're on that YouTube channel." The less broke boys were like, "Oh, these guys, they actually got them a lot of promo." What did you really do? All you did was extract it from these guys. Now, the less broke boys might want to work with you. Maybe you don't give them, maybe there's a slightly better commission deal. Maybe they get 60, you get 40. Take their [ __ ]. Before you know it, you're gonna have a catalog of stuff. So people go, "Who's this record label?" You go, "Well, bang." And you type any of those bands in, and they flood the internet with things. Now you're a real record label. Now, new bands, up-and-coming bands want to work with you just because they're not [ __ ]. A promo. You've got, you put them everywhere. One of these up-and-coming bands might be the next big thing. Who knows? All I've done in this business model, I don't know anything about record labels. All I've done is stick to my tenants of business. One: This is free. This is free. This is running a record label from your bedroom, doing all this is some work on your computer, putting them on iTunes and making a website, whatever. That's all [ __ ] free. Negotiate with the broke boys. You can do it for the cost of a coffee or a Starbucks. So this is a free business. I've just given you one. It's free. Two: We've prioritized money in. The first thing I wrote is, "How do we make the money? How do we make the money? We sell records." Okay, so we need this, we need this, we need this. Prototype's making the money. And the third thing I did was speed. Quickly get out, get out, get out. Tell the broke boys to make more. Tell the broke boys to start a daily vlog of them recording, a daily vlog of what it's like in the band. Start putting out on a YouTube channel. Speed, speed, speed. More, more, and more. Give me, give me content, content, non-stop. Speed. All I did was stick to my three basic business principles.
Now, imagine you try this for six months and it doesn't work. Have you lost money? No. What did you lose? You didn't have a big fancy office. You didn't lose nothing. What's the worst that can happen? What's the worst that can happen? Nothing. And that is the exact point I'm trying to teach here. If you stick to these three tenants in nearly any business, you'll launch it for basically nothing, and nothing can go wrong. Nothing can go wrong.
Point four. Let me clear my board. I might get some hot chick sit here and wipe the board. Factory message of female, right now. Sorry, bear with me. Let me uh, get a member of staff. Right. Point four: Staff. Now, this is gonna be a controversial one, but bear with me. If you're watching so far, you should have learned a lot because we're just getting [ __ ] started. We have a hundred business points to go through. We're on number [ __ ] three. Number four: Family and friends are actually the best staff you can possibly get.
Now, people say, "Don't mix friends with business. Don't mix family with business." Can you clean my board? Sit here and wipe it, please. "Don't mix friends with business. Don't mix family with business." That's a lie. So the reason people say this is because people are [ __ ] and they can't get along with anyone. They're not, they can't get along with anybody long enough to make any money. But I guarantee you have family members right this second who can make you money. I guarantee you. You have a 15-year-old niece, nephew, cousin, brother, whoever, who knows more about computers than you do. I guarantee there's a 15-year-old out there with nothing better to do who knows more about Photoshop than you do right now. His stupid ass needs a job. So you can start a company right now. You can call up all your cousins. One of my cousins works for me. My brother works with me. When your cousins, nieces, nephews, whatever, some 15, 16-year-old who's in school and bored and say, "We're starting a company. I'm gonna make you a director. You're gonna have 10% of the business. You're gonna do everything I say. And by the time you're 20, you're gonna be rich." Not bad. Seven out of ten, you're gonna be rich. And he'll come start doing work for you. Now, if he won't listen to you, well, then I don't know. If you can't tell a 15-year-old to do, then you're a [ __ ]. But me, I always have people I can call on. There must be younger people. Don't, you don't need some old person. You need young people. And the reason for this is because young people have nothing to lose. If you hire a 30-year-old man, he has to pay his rent. He hasn't got time to waste. He has rent to pay. He has a car payment to pay, whatever. A 15-year-old, he has nothing. He doesn't, he only doesn't play video games. So if the business fails, who cares? He has nothing to lose. So why don't you utilize him? You must have friends or family members who are young enough in a position that they have time to waste. Don't hire people who can't afford to not pay their rent. Hire people who live for free. If you have friends and they have a kid, go to your friends and say, "Your kid's 15. He's good with computers." "Yeah, I'm thinking of starting a company. I'm thinking of letting him work with me for free at the beginning. See if he's good. Maybe he's good. I'll start paying him." They'll love that. They'll love the idea of their son or daughter getting some enterprising work. "Yeah, good idea. What's the business name?" Bang. There are free, effectively free workers everywhere. And if they're not free, they're extremely cheap, and they're everywhere. You just don't utilize them.
So now, let's think of [ __ ]. You own a website business. I don't [ __ ] know. Website business. Let's say you don't know, like you're me. I don't know anything about building websites. You want to start a website company. It's oversaturated. I wouldn't recommend it. But let's say you start one. You go, you find a 15-year-old. You tell his ass to learn how to make websites. She convinces him it's a good idea. And then you start taking money, and you give them, you give it to the 15-year-old. You're a middleman. Now, a 15-year-old works for free. You can do websites cheap. Now you can do websites for 300 bucks. "I'll do an entire website." 300. "Half now, half when it's done." People like, "300 for a website?" Yeah. "150 bucks now. Everything's done." Take 150 bucks. Give 50 bucks to the 15-year-old. Tell him when he's done, he gets another 50 bucks. 100 bucks for him, 200 bucks for you. You ain't done [ __ ]. Boom. Wham, bam, done. He can even start your company website for advertising. Gonna be getting for free. Bang. You have free workers out there. Find young people because young people can afford to work for [ __ ] nothing. You trying to find members of staff that have mortgages and [ __ ] pension plans? That's expensive. The best staff you can find are young people. And in most cases, young people know more than the old people anyway, especially about technology and stuff. Young people are fantastic. I love hiring 18, 19-year-old kids. They know [ __ ] more than me about [ __ ] TikTok, Instagram, all the blah blah, all the [ __ ] that's big. They know more than me. I'm 33. I'm not even old. These kids are sitting there going, "We need to do this and this and this." I'm like, "Go then." They're like, "How?" I'm like, "How long is it going to take?" "Like a week." I said, "No. So we're ready tomorrow. Tomorrow. Show me it done. Don't piss me off. Go." Speed. Back to lesson one. Bang. So you already have workers for your business. You already have them. You just don't [ __ ] use them because you're lazy. So contact them right now. Let's get started.
I apologize for the change of face, but Andrew has invited me here to talk about another very important point when it comes to making money, which is work with family when possible. That's why I'm here now. It's very easy for people like me and Andrew to tell you to work just with family members because we're two brothers and we're exceptionally close. But we actually learned this from other people. Me and Andrew have always been best friends, but we used to fight and argue when we were growing up. And when we were 16, 17, we worked in completely different, let's call it, fields. I mean, we worked different jobs. We weren't actively putting our resources together and trying to make money. We had some friends who were Pakistani guys from the United Kingdom, and they taught us a very important lesson. One of our friends, I won't say his name, but...
He had a Ferrari and used to drive it around our hometown, and we were very impressed. And we said, "Well, you know, how do you have this Ferrari?" Because he was only a lawyer, a junior lawyer, making maybe 50,000 pounds a year. A good income, but not a Ferrari income.
And he told us, he said, "You English people, you white people," actually, he said, "mixed race have it all wrong. I have six brothers, and what me and my brothers do is this: One of us is a doctor, one's a dentist, one's a lawyer, one's an architect. We're all in different fields. What we do is we live in the same house. Our wives live with us, our wives cook the meals and look after our children, and we pool all of our money together. That way, we own the house instead of renting six other houses."
"That's pretty clever," and what about the Ferrari? They said, "Well, a Ferrari finance payment is 2,000 pounds a month more than me on my own. However, I don't drive the car all the time. So me and all of my brothers, we bought these finance agreements for the Ferrari, our Range Rover, and our Rolls Royce, and we all drive them whenever we want."
I thought, "Wow, that is smart." That's a conversation that got me and Andrew thinking at a very young age. From that point on, whenever we were renting a small apartment, we'd rent it together rather than pay two separate rents. Property prices in England were still too expensive for us to buy. But, uh, when we worked together, when we were looking at making money, we thought, "How can we do this together?" And everything from there went into a single pot. Up until this day, we're multi-millionaires. We share bank accounts. I don't know what's in whose account under what name, which house, which car is owned by who. I mean, I know on paper, but it doesn't matter because everything is collectively owned now. Now it doesn't matter so much. Me or Andrew could go our separate ways, buy our own family home, and have three supercars each if we wanted to, but we don't.
You see, when we were much younger, our first ever supercar was an Aston Martin Vantage, an old one. Cost us 65,000 pounds secondhand. Wasn't the most amazing car, but we paid for it, the both of us. That way, we had a supercar for both of us to use. The money we saved, we put into business, the other activities we were doing, and that helped us propel forward to the point we're at now. So, sure, it'd be easy to divide resources and split now, but why am I going to reach the next level faster if I do that? No.
So now I live in a seven-bedroom house. My driveway is full. It's got six cars on it. I actually need to extend it now because Andrew won't stop buying cars, but that's fine by me. Always work with family. Now, my cousin from the United States is in a very lucky position. He's now living here in Bucharest. He works with us, um, and he essentially works with us forever. As long as we're making money, he's going to be here, and he's part of the team.
When I first met him, he was five years old. I didn't see him again till he was 19. Now, when he was 19, he was smart. He had it all going on, but he was a bit privileged. His mother was a very well-to-do woman, a best-selling author, uh, on the in the field of political science and a university professor. And he was at university, everything was getting paid for him. I thought, "Okay, you know, he's not from the same world as me." But then things started going wrong for him. He was, uh, sleeping on a floor, delivering pizzas, living the kind of life I remember. So after two years of what I call the struggle, I thought, "Okay, it's time to bring Luke back in." And Luke is now a member of our team, as he is a member of our family.
Now, I understand not everybody has brothers, not everybody has cousins. You may be an only child, you may be an orphan, I don't know what you are. But everyone's got those people, those people that are so valuable to you that you wouldn't stab them in the back for a billion dollars and a thousand women. Those are the people you want to work with, as long as you are sure that they share your sentiments. Those are the people you want to team up with. Pull your resources. Live in the same house if you're broke. If you're both working dead-end jobs, rent one room together if need be. If you're good friends, if you meet a woman, tell them to take a walk for an hour and come back. That is the one of the keys to my land your success.
Lesson five: Command respect. Now, what I want to do in the 100 points, this hundred tenets of business, is I don't want to talk too much about the fluffy [ __ ] that all the other millionaires talk about and teach. Because what they're really doing is copping out. So it's very easy for Tai Lopez, who has no real business skill, Tai Lopez doesn't know anything about business, to say, "You get rich by reading books." Because it sounds easy, then everyone goes, "Oh, really? Okay, I'll read it. Sounds easy." But it's not true. And think positive, you'll get rich. That's not true either. But some things are true. And number five, this is true: Command respect. This is true.
So I'll give an example. We're gonna go back to Dan, the T2 guy. So I still talk to Dan sometimes now, and he's a good guy, he's got a good heart, but he just loves drugs. Some people do. One of the reasons I'm good at business is because I command respect. And I command respect because I'm a physical specimen of a man. This is the reality. I'm a professional fighter. So this helps me whether I'm running my webcam girls or whether I was pitching television advertising. There's a level of respect humans have for other humans who are a physical specimen. Dan is a big black guy. The way Dan sold an act, acted, and treated staff, he could get away with that. He couldn't get away if he was an obese white guy. Because there's something evolutionary about humans, and if you're a person who's viewed as strong, people respect you, and people trust you.
If you want to run a business and you want people to spend money with you, then one of the best things you can do is go to the gym. Tell you the truth, get in [ __ ] physical shape, and people will see, "Okay, well, he's obviously not afraid of hard work. He's obviously disciplined." There's some things that are spoken without being spoken. There's a word for it that will come to me. And having a physical presence is one of them. It helps in business every possible way. If I stand up, when I used to stand up to sell TV advertising in front of people and say, "I guarantee you, you spend 19,000 with me, I guarantee you spend 19,000, you get double back when they see your products on TV. A product like this is gonna sell." "Do you sell online?" "Yeah." "Where else do you sell?" "Tesco, Sainsbury's." "Oh, you're in the superstores as well?" "You're gonna make twice your money back guaranteed." If I say that as a big strong guy who they could tell obviously trained really hard, was disciplined, was was not afraid of hard work, that was more valuable than if I was a fat piece of [ __ ]. It's gonna work. I'm like, "Well, what the [ __ ] do you know? You see pizza, you don't know anything. Go to the gym. Command a physical presence." I'm not saying you have to beat anyone up. I'm saying if you command a physical presence, your words have more weight. And it helps in business.
Across all things, everything. I know webcam girls is a very unusual business, and none of you have probably run webcam girls. But I learned a whole bunch about business running my webcam girls. In fact, I approached my webcam girl business the same as I approached every other business with the same tenets. I started it for cheap with a laptop I already had and the girlfriend I already had. I found out how to get the money in before I find out how to produce the videos. I had people sending me money for these feature-length porn videos. I couldn't even produce them. I didn't have a [ __ ] camera. Money first. All my same things: speed, quickly, get everything produced quick, quick, quick. I did all the same things with all my businesses. But the reason I could have so many girls listen to me is because I'm me, and I'm me because I'm big and strong. I'm entertained. So if you want to run your business, do not neglect physical presence.
Now, you can be successful without physical presence. There's a whole bunch of dorks who are successful. But I'm talking about what I know about business and what I've learned. This is the Hustlers University. And what I'm saying is, it will help you. Even if you're Bill Gates, and he was super successful, and he's a dork, he would have been more successful if he was a big strong dude. It's never gonna detriment you to be bigger and stronger in life. And whether it's in business and every other aspect of life, being bigger and stronger and commanding physical presence will always help you. It shows discipline. It shows that you understand hard work. And it makes your word more valuable. And sometimes in business, all you've really got is your word. You have to promise people [ __ ] and they have to believe you. So if you do that as a big strong dude, people just believe you more. This is just a harsh reality. This is the Hustlers University. I told you there's no nonsense, there's no garbage. If you want to run a company, start going to the gym, get big, get strong. It's going to help you make money. Sooner or later, I guarantee you, it's going to help you make money. This is point five. Don't neglect it because it's very, very true. Even if it only helps you ten percent, ten percent is a lot. Ten percent's the business. The ten percent is the difference between success and failure. Ten percent is the difference between a little bit of money and a lot of money. Ten percent is a huge difference. If you're, if you're selling, let's say you're selling a million dollars a product, and you've got a 20% margin, that's 200k. If you had an extra 10% margin because you're the big strong guy, and you got 300k, bang, that's an extra 100 grand a year. That's a [ __ ] 911. That's a Porsche. There's a big difference. It's a big difference. So do not neglect number five because it's real.
Check the guns, would you? And here, let me prove the point. Would you have bought this course? You bought this course because I'm entertained. You trust me. You've obviously looked at me and you go, "You know what? I've said about this guy, he knows something. I trust him." Would you have still bought this course if I was morbidly obese? Genuine question. I know it's an extreme, but this question: If I was morbidly obese in my chair and very, very fat, I'm gonna teach you about business, would you have bought the course, or would you have thought, "[ __ ] you fat [ __ ], you don't know nothing?" And if you're honest with yourself, you think, "Yeah, you're probably right. I wouldn't have bought from you if you're obese." So that's the extremes. I'm a professional fighter or obese. These are extremes, but the extremes prove the point. The closer you are to a good physical condition, the more likely you are to be respected, and the more likely you are to be able to say things and people believe you. So get in physical shape. That's point five. Commanding respect is always, always gonna be able to help you throughout life, especially in business.
Point six: Resell the people you've already sold to. It's the easiest money you'll ever make. So in T2 television, when we, because obviously we knew we weren't making money when [ __ ] was getting hard, what we do is we were selling these 18, 19 grand deals. And one of the reasons we survived so long is we get people to sign up, pay 18, 19 grand, make their advert, show them their advert, hope they loved it. And if they loved their advert, then we try and sell a bonus airtime package. We come at them and say, "By the way, we've got a really big purchase coming up from McDonald's, some [ __ ], and we're getting airtime extremely cheap. And for only an extra five grand, we can get you an extra 100 spots on TV." Some garbage, some [ __ ], and try and sell them this extra package. And this package had some profit in it for us. The spots we'd given would be in the middle of the night, cheap [ __ ]. And this was our only chance to make any profit. So they said no to this, we did all the work for effectively nothing. They said yes, we'd make, we'd sell it for five, and it was like four grand profit. That's how we were surviving. So if we tried to put that in at the front end and sell 24, 25 grand packages, we couldn't sell it. But if we sold them at 19 and then tried to upsell them later, we had about a 60, 70% upsell rate if people liked their advert.
So the easiest money you'll ever make is selling to people who have already bought from you before, as long as you relatively fulfilled your deal. So we, we did it after the advert. We didn't, we never tried to sell it to them before they saw the advert because then it was much harder to sell. So if you do a good job or a half-good job, the best customers you're going to have, Pete, are have are people who've already bought from you before. You should already know this about business. This is a very easy one, but it's so much easier to sell to someone who's already bought from you than it is to sell to someone new. A lot of you watching this may have already bought something from me before. Congratulations, you must know a lot of [ __ ]. But it's very, very important. It's very, very true.
So I get a lot, I know a lot of people with a lot of different businesses, and they all call me up for advice. And one of the first things, a guy called me up about two months ago, and he was saying he was struggling for cash. He asked me to borrow money. I said, "I won't say who he is or what his business is because you'll know." Some of you will know. So to protect him, I was like, "Well, okay, how much you need?" He's like, "200 grand." "So how many customers do you have?" "Because, oh, all in all, yeah, all in all, how many customers are on your database?" "You guys know about 10,000." "Like, bro, there's your 200 grand. Put together a [ __ ] email campaign, do a huge discount. Don't let, you don't have to let it leak out into the public. Let them pay full price. These people have bought from you before. Put it all together, pow, and blast it out. There's your 200 grand. What do you need me for? These people have bought from you before, and you delivered. There's your money. Your money's sitting right there. Go get it." So easy to sell to people who have already bought from you before. If you did a half-good job in business, you don't need to sell to tons of people. If you can sell to the same people over and over again, and it's much easier to sell to the same people over and over again than it is to keep finding new people. Keep that in mind, especially during times where you need cash or you're trying to raise cash or you want to increase cash flow. The first thing you should do if you have a company and you're making a bit of money, making a little bit money, and you go, "You know, I want to make some more. What can I do?" Don't look at advertising more. Don't look at getting new customers. Don't look at a new product launch. The first thing you should do is go, "Is there anything I've already got that I can resell to people who have already bought from me?" And that is the easiest money you're ever going to make. Don't forget that, because you'll need that at certain points in your business career. You're gonna need to be able to pull that ace up your sleeve and generate money from thin air. Keep in mind, that's point six.
Right, point seven. This is another one that goes back to point two and point three, but this is really important. Don't get legal before you get rich. This is super important. We're talking about hustling here. I'm telling you the hacks to becoming rich. Do not get legal before you are rich. You can fix your legal [ __ ] when you've already made money. It's a shame I've deleted my or erased my beautiful makeup diagram, but it's very similar to what we were saying earlier. I know so many people who have registered a company, registered for VAT, registered with the tax man, already have an accountant, and haven't made any money yet. I, in most of my companies, will make a million dollars before I'll even consider [ __ ] around with a tax form, talking to an accountant, or registering any [ __ ] companies. All that [ __ ] is on the later basis until you have proved the viability of your company and you have money coming in. When you're rich and you have money in the bank, then worry about that stuff. Do not waste your time, energy, and money doing all that legal crap before you know anything about whether your business is going to work or not. Don't do that. It's the, it's, it's counterproductive, and it's expensive, and it's a time sink. If every time I had to start a company or an idea, I had to go register a company, get an accountant, do tax forms, do VAT forms, what a waste of time. I've started maybe 100 companies in my life. 20 of them made money. You tell me, 80 times I would have had to [ __ ] around. Don't do that.
I know so many people who have a company legally, but don't have a company in reality. Because it exists as a legal entity, but it does not provide cash. A company provides cash. If you're a street drug dealer, you own a company much more than the guy with all the legal entities which ain't making money. Do not, we're hustlers here. It's the Hustlers University. Do not confuse this money in. What's the lessons I've been teaching you? Money in. Where's the money in? Legal [ __ ] is a cost. We're not interested in costs until we've seen the money in. Do not get legal before you get rich. You do not need any legal [ __ ]. You need a website, a domain name, and that's it. You do not need any legal [ __ ] before you get rich. Don't make that [ __ ] mistake. The reason people do that is because it makes them feel better. It makes them feel better because then they feel like they have a company. So people go, "I want to start a company." They don't know what to do, and they don't know how to make money. So they think, "Well, if I spend money and set it all up legally, then it's, then I've got a company." Then they feel better inside, like they've achieved something. When really, they've achieved nothing because they're still not making money. Don't fall into these traps. So you can walk around telling everyone you have a company because you've spent money. Anyone can spend money. Making money is hard. Spending money is [ __ ] easy. Do not do that. Vanity. "I own a company on paper." Garbage. [ __ ] all that off until money's coming in the bank. Do not get legal before you get rich. Extremely important point.
Nine: Use what you got. So this comes down to one of the ideas for how, what idea of a business to run. So I just gave you the example of the 15-year-old cousin who can make websites. Now you have a website company. Or your 15-year-old cousin who can do, I don't know, [ __ ]. Who knows what he can do? He can mow lawns. Every 15-year-old can mow lawns. Now you have a lawn mowing business. Bang. Tell his stupid ass to go deliver some flyers. Drive him around in your car. Play some 2Pac. Chill out in your car. Text some [ __ ]. Drive at five miles an hour. Let him drop off all the leaflets, and then let him mow all the lawns. You collect all the money and just pay him a percentage. Bang. You now own a lawnmower lawn mowing company. Congratulations. Use what you got.
I made a lot of money with webcam girls. If you're watching this, you don't know that. Webcam girls, you can go to chaturbate.com. You see girls on there on webcam getting naked, talking to dudes, taking money. That made me millions and millions of dollars. I came up with that idea by sticking to this principle: Use what you've got. So right now, if you're sitting there, make a list of everything you have. And I mean everything. You have a house, you say it's rented. You have a car, it's on lease. You have, uh, physical strength. Let's say you're a strong guy. When I was making my list, I was writing everything down. I was like, "Well, I've got six girlfriends." Six girlfriends. So, okay, strip. How can girls make me money? Strip club. But that takes money to set up. Remember, costs money. In a strip club, I cannot, I cannot get money in a strip club without a club. So I looked at all the costs for a strip club and realized it's too expensive before I could get money in. It's too big a risk. Remember, it's too much risk. I could lose 3, 400 grand. Can't risk that. How can I get money in? How can I get money in for having hot girls without spending money out? So my first idea was strip club, but I looked at all the costs. I was like, "Okay, so how, why do men send, why do men spend money on girls in strip clubs?" Because girls are beautiful. They get to look at the girls, see some titties. That, uh, how can I do that without the club? Well, the internet. If I put them on the internet, it's cheap. This is literally how I thought. I stuck to my business principles. Okay, it's cheap. Start looking up, bound, discovered the webcam websites. All right. So I've already got the girls. I've already got a laptop. I've already got the internet. Bang. The day I had the webcam idea, the same day I was making money. I didn't spend any money, but I was making new money because I refused to allow myself to spend. Then I started making new money in with the webcam because I knew I had the internet, I knew I had laptops, I knew I had girls. Use what you've got. Look around you. What people do you have? Does your old mother need a new job? Maybe she's at home and she's bored and she wants to, maybe she'll mail things for you. I don't [ __ ] know. Do you have cousins, nieces, nephews? Do you have a girlfriend who has nothing to do? Use what you have. People, things you have. Make a [ __ ] long ass list, and you'll start thinking of ideas, business ideas, and they're gonna come to you. Like the strip club came to me. But then you're gonna sit there and go, "Okay, this is a good idea, but I can't afford that." But then you're gonna go back to the other lessons I've taught you. "Okay, this is how much it would cost to set up that way, but how can I get the money in that this would generate without all the costs?" And if you do that, and you sit there with a piece of paper and you write everything down, and you stick to the principles I've taught you so far about how to start businesses, you may find a business you can start for a couple grand. You've already got your staff. A couple grand. You've got an idea. You try it. Doesn't work. Lost a couple grand. Does work. Bang. You're rich. That simple. If it starts to work, speed, speed, speed, speed, more, more, and more. Less than one. It's really not that complicated. This is how hustlers get rich. It's really, really simple. So use what you got. A lot of you already have things you can use, you just don't use them.
Uber's another one, man. Uber is a [ __ ] perfect one. So I know Uber doesn't pay very much at all. I know that. But you know what? Everyone loves to do when they first get their driving license, drive. Maybe you have a 17-year-old cousin or some [ __ ]. He's just learned to drive. Get his ass on Uber. Rent a car. Find a way to rent a car with unlimited mileage per month. Tell him he's going to do 10 hours of Uber a day to train how to drive. Lie to his ass and say that you, in the Uber app, you can track and make sure he ain't breaking the speed limit so he drives safe. Put his ass on Uber. Pay for his gas and keep and give him half the money and keep half for yourself. Bang. Done. Set him up. Get them ready. This, this is [ __ ] I didn't plan. I'm just telling you things off the top of my head because this is how I think as a hustler. I don't, I don't need to sit and think. I just know there's money and I find a way to get the money. That's how I am. So right now, you've got cousins out there who aren't driving Uber. If you can convince them to drive Uber, well, then why don't they do it without you? Easy. You can talk some [ __ ] make some [ __ ] up. "Hey, if you've got an Uber account?" "No, I'll set it all up for you because it's complicated and there's some tax. I'll handle the tax. Don't pay no tax. Just lie, blah, blah, blah." Get them an Uber. Get them in cars. Bang, bang, bang. Take the money. Done. What are you waiting for? Use what you got. You've already got people. There's cars. There's things happening. You're just not doing anything. Look around. Make a full list of what you have. Stick to the business principles and find a way to get money in without spending money out, and you won't lose. That's what I did with the webcam company, and it made me millions of dollars. Millions. I ended up with huge numbers of girls all because one girl I started with, one girl made money, bought another laptop, got another girl. Two girls made money, bought a bigger apartment. Three girls, four girls, five girls. Bang, bang, bang, bang. Before you know it, I had a [ __ ] empire of women because I stuck to my business principles. I never, I never spent money I didn't make first. I never, for my webcam company, which ended up generating over seven million dollars, I never once ever spent money that I hadn't made. I didn't spend a dollar out of my pocket that I hadn't already made first from the webcam company. I started that from zero, just like I started my advertising agency, zero. And this is why when people come to me and go, "I want to start a business. I need an investment." I sit there and think, "You don't know about business." Because if you knew about business and your idea was really good, you wouldn't need my money. You'd pull it off for zero. If you're talented and your idea is good, you don't need money. So if you can't make it work for zero or for very little, then it probably wouldn't work anyway, and you'd just lose a whole bunch of money. Because if it would work, if it's a good idea and it will work, then money will start coming in fast, and you'll have the money you need. If no one's sending you money in to give you the money you need, then the idea doesn't work anyway. So if I put these hose on hose, hose, I take that back, it's horrible. If I put these chicks on cam and no one was paying them, then they weren't hot enough to be in a strip club, were they? Luckily, they were. I know my girls are hot. It's just an example. This way I get to find out if they're good enough for free. This way I get to find out if they're good enough for two, three hundred grand. Think about it. Use what you've got. You've already got. Shout there. You're just lazy.
Lesson ten: Staff. I know a lot of people who are starting companies or they want to start business. The first thing they say is, "I need an assistant," or "I need this," or "I need that member of staff." Staff need a clear objective. So here is the very simple magic rule for staff: Staff either make you money or save you time. That's a clock, in case you're wondering. Or you don't need them. So a salesman, sales staff will sell things and bring money in. You'll be able to sit there and see exactly each week how much money that member of staff made you, and you'll be able to make sure that he made you more than he cost you. Fine. Other members of staff are going to save you time. Even if it's a general assistant or PA, you'll be able to see the time saved with the tasks they've given. And you need to be able to sit down with a piece of paper once a month, once every couple weeks, whatever, and audit your staff. Staff member, how much money do they make? How much do they cost? Positive or negative. Staff member, what tasks did they complete? How much longer would it take me to do those tasks? Is it worth the money? Because if you could have done those tasks in your free time where you spent watching TV, then you don't need that [ __ ] member of staff. Fire them and save the cash. You have to audit your staff very specifically by this method. They either save you time or they make you money, or you don't need them.
Now, anyone who's worked any kind of job knows if you go into any kind of company, most people are doing nothing. I've worked so many jobs, and everyone did nothing. In fact, I had a job at a company selling advertising after I left, after T2 failed. I got a job at another company selling websites and all this kind of advertising, and I spent three of my five days a week reading Wikipedia because I didn't care. Because I had a basic, and it was enough. And I was, and by then I was training to be a world champion. I was tired all the time, so I didn't give a [ __ ], and no one called me up on it. No one noticed. Three days a week, I did nothing but read Wikipedia pages because I couldn't access Facebook. It was interesting. That is literally the level of laziness most people experience. If you take out coffee breaks, cigarette breaks, chit-chatting in the office, most people do [ __ ] nothing. I'm very sure you could fire 50% of the people in nearly any company, and the company would be just fine if the other 50% did some real work. Everyone's lazy. Big companies are inefficient because they haven't got time to do this. But you're not gonna have a big company. You're a hustler. You're gonna have a few members of staff. You're gonna make millions of dollars, and you're gonna make sure that either they're making you money or they're saving you time. Now, the amount of time they're saving you isn't enough, or they're not making enough money to cover their wages, they gotta go. There is, you gotta be ruthless in this game. But this is how staff, this is the magic formula of staff. So when people say to me, "I want to start a company, I need an assistant." I see an assistant to do what? "Oh, just to help me with things." What things? What things will they help with? How long do those things take? How much time is that going to save you? And why do you not have the time to do them yourself? Because you want to watch TV? Because you need to relax? Because you're afraid you'll burn out? Shut up. It's garbage. It's all garbage. You want to feel important and tell someone what to do. That's not how you get rich. This is the magic staff formula. Do they make me money? Do they save me time? Write it all [ __ ] down. Work it out. And if it ain't good enough, they gotta go. Simple. That is how you manage staff. Because I get asked so many questions about staff. Making money, saving me time. Done.
Another thing that's important with staff is you have to teach staff your business ethics. So whenever I have a member of staff, I've argued with staff plenty of times because everything must be done quickly. But that is how I work. That is how I want them to work. Now, I am 100% certain that even if it's only by one percent, the fact that I am uncompromising in the fact I want things quickly, things get done quickly, or quicker. If I didn't say anything, it may take 10 seconds. If I complain, it may take nine seconds. It may only be a tiny saving, but that is how I work. That is how the people I work with, I want them to work. Speed is everything. So when you get new members of staff on board as well, make sure they understand your business principles, especially number one, because that is your business mantra: speed. So if you have a salesman and he's selling and he's doing fantastic, that's good. You can sit him down and say, "You know what? You're doing a fantastic job. You're making lots of money. I'm very, very proud of you. Look, you're making this, this, this. You've done really well. Though you're making a target, so only one thing I want to talk about is how quickly you work." "What do you mean? I'm hitting target." "Yeah, you are hitting target, but when you're inputting information to the system, I think we can get that done quicker. There must be a faster way we can get that done." Free up his time. If he does things quicker, he has more free time to sell more products. He'll make more money. Speed. No one ever works fast enough. When I was fighting, jab, cross, the basics is never quick enough. It has to be quicker. Has to be quicker. In fighting, there's no such thing as too quick. Everything must be faster, all of the time. It's the same in your business, all of the time. Faster, all of it, all the time. If your assistant is saving you time, if they work faster, they save you more time because they have more time to do more things to save you time. Faster, all the time. So even if they're both performing, you still have to re-incentivize and re-iterate point one. Point one is super, super important. If you do that, you're gonna get more active staff, more money's gonna be made, more work's gonna get done. It's better for everyone as a whole.
I learned this business. I learned this. We're gonna come, I'm probably some of these points were overlapped. But before television, I worked as a fishmonger when I was 15. It was my first job, and I used to carry boxes of ice and, uh, fish at six o'clock in the morning on the market. [ __ ] job in the middle of winter, carrying ice, six in the morning. It's minus five. It's horrible. Your hands are shaking. It's a horrible job, and I got paid no money, but I did it because I wanted money. So if I'll do that at 15, your 15-year-old nephew will make a [ __ ] website. So I used to get up at five, run from where I lived in Luton to the town center market, run because I didn't have a [ __ ] car, work 10 hours, and then run home. That's how much energy you have when you're young. That's what I did. And the person I worked for was my uncle. My uncle worked there. His name was Keith, and he always used to tell me, "Faster, faster, faster, faster." And I was always trying to move these blocks of fish as quickly as possible. And one, when I was moving all the boxes, I'd say, "Yeah, but if I finish it all, what's the rush? I'm here until five o'clock." He goes, "No, no, faster, faster, faster." It always pushed me to finish it. And then if I finished everything, I'd have maybe three hours left. If I, if I walked, it would take me to 10 hours. If I ran like crazy, it would take me seven hours. So I'd have three hours spare. I say, "Now what do I do?" He goes, "There's always work to do. Find work to do." "I don't know. What do you mean, find work to do?" "Because find work to do. Find work. If I see you standing around, I'm gonna get angry. Find work." That's what he used to say. I'd end up sweeping the floor or wiping the walls, cleaning the walls, some dumb [ __ ]. But he was right. I'm going to come to this point later on. If you do things quickly, you have more time to find work to do. And finding work to do adds up. I swept the floor, I wiped the walls. Maybe someone came in, saw the nice clean pristine walls, and bought some fish they wouldn't have otherwise bought. If there's a tiny mark on the walls, who knows? The point is, the work got done quicker because I was being pushed to be fast. It got done. And then more work happened. Even if it was menial work, more work happened in the same time frame. More work got done. That made me more valuable as a staff member. That's how he valued me. You've got to be the same. Right? That's the first 10 lessons. We have 90 more. The first 10 lessons of the Hustlers University. I bet you're sitting there already, and your mind's blown. You're sitting there like, "Whoa, I've learned so much. I didn't think of it that way. Tate, you're a genius." I know. I know. We have 90 more. We've just begun. If you've watched this video once, I recommend watching it two or three times. These things need to sink in like second nature to you. You need to be able to recite them one by one. We've talked about how you start companies, what you prioritize in a company, how you make sure everything's done quickly, and why that's so important, how you manage staff, how you find ideas to relaunch companies, what members of staff you can get. We've covered all this in the first 10 points. This alone is enough. This alone is worth the value what I've taught you, and we've just begun. The first 10 points at a Hustlers University. If you watch this video, I recommend you watch it two or three more times before you even move on to number two. If you want to move on to number two, do it. But you need to pay attention to these because they are the basis of everything I'm going to teach you here on after.