3 Crazy Rich Ideas From The 7th Richest Man In Australia

Advice To Entrepreneurs: From A Man Worth $500 Million

Today, I want to talk about this crazy lesson that I learned from this guy that’s worth 500 million dollars!

That’s freaking insane, right?

That’s more than what most people are going to see in their entire lifetime.

Now watch this video and discover how it could literally start impacting your business as well!

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FULL TRANSCRIPT

The seventh richest guy in Australia that I’m gonna be sharing today is the same person who founded iflix (which is the Asian version of Netflix).

This guy talks about the concept of what got him to the point where he is today.

That concept is understanding what you actually suck at!

We all know that when it comes to business, it’s all about how you succeed. But what I learned from him totally changed my perspective.

For him, you need to find out what you suck at and when that happens, start focusing on what you’re good at.

The question that you now need to ask yourself is, “Where is my zone of genius?”

Once you find that out, only focus on that zone of genius and the couple of skills that you have.

Because those gifts that you have, that is your “$10,000 an hour” skill.

Remember this guys..

Anything else that doesn’t make you money, if you don’t like it and if you don’t enjoy it, you should delegate it to someone else who has that zone of genius.

Don’t Get Stuck In The Frame!

That’s exactly what this guy did.

He had a company, but they didn’t have enough funds. This isn’t like internet marketing business or online business.

It’s literally real business where you go to a bunch of investors, you pitch the idea and then they give you funds and the resources for the idea.

What they realized was, they needed to get their own heads out of their own butts. They had to pinpoint what it was in their business that they absolutely suck at and go to their competitors to see if they could actually help them.

The craziest thing was, they figured that in order to grow their company, they needed to hire someone from an existing company that is better than them. .

Someone who has the skill that can see their own fault.

I remember one of my friend, Aaron, talks about that all the time. I remember him always telling me. .

“You can’t see the entire picture when you’re stuck in the frame.”

And that’s what they were in. They were stuck in the frame, but then they had the willingness to change and to drop their ego.

Dropping your ego in instances like this is one of the most important characteristics when it comes to entrepreneurship and in getting to the next level.

What these guys did is they went to various companies and asked the CEOs if they want a job.

They did the same thing for every companies that declined them. They went down from the CEO to the CMO, until every level of the network said no.

So it happened, one day, they went to the fifth company which was actually their biggest competitor.

As usual, both the CEO and the CMO screwed them off until their representative talked to the COO. They asked him via AOL if he wants to work with them.

To his surprise, the COO agreed and expressed his interest to meet up and see what they can do next.

The story was pretty funny because since they were so limited on funds, he had to tell the guy that he also needs to meet up with his other partners to see who’s the best fit for the position.. but truth is, there was no other partners!

IT WAS JUST TWO GUYS.

Just two guys and their goal is to have the COO of that existing company go to theirs and basically pitch his idea so that way, if they didn’t like the guy, they at least have the idea.

That’s the most genius part for the CEO to execute his plans.

And for that to happen, he needed to accept the fact that he sucked in an area and had to pay some dude that was better than him in leadership or other high position even though it’s his own company.

Part of that was to pay him the higher salary to check his ego at the door so that the company that they were building could actually grow.

Because of that ONE DECISION, the company went from $70 million to $700 million in a couple years’ evaluation.

Now when it comes to those big numbers, understand that sometimes it’s better to look at other industries.

And for those that are reading this right now, many of you guys are coaches, consultants, entrepreneurs, or you are in the online marketing space.

We’re learning from each other and what happens especially in evolution and natural selection is when the gene pool is small, there is no way of evolving.

There’s no evolution because there’s no variation of ideas when everyone is thinking the same!

What happens when everyone’s thinking the same, there could be a possibility where all of us are thinking wrong because we just kind of follow the crowd.

“Monkey see, monkey do.”

But when you start adapting it from other industries and entrepreneurs that are playing at a 10X to 100X scale, you start realizing that all entrepreneurship is relative!

So relative that what can apply in something that’s worth a billion dollars, you could also apply to your business.

What Netflix and Google have done in their businesses, you can also apply in your business, and it doesn’t matter how small you are.

YOU CAN START NOW

If you begin with the end in mind, you understand that there’s a greater vision for not only your brand or your vision. You can reverse engineer to where you are right now so that you can get to where you want to be faster.

That’s what Peter Thiel was talking about when he said,

“So many people overestimate what they could do in a year but they underestimate what they could do within five years.”

Where you are in this position in time, it took Gary Vaynerchuk almost 10 years to actually get heard.

It took Grant Cardone around 20 years of cold calling in sales to actually do something where he was seen by the world.

And what you guys gotta understand is that you have the ability in the palm of your hand, your phone, to really start something that can actually impact other people’s lives.

It’s just understanding that it takes the exact same energy to play small than it is to play big.

What the seventh richest man in Australia said was,

“It takes the same amount of energy to solve a problem that pays you $100,000 a year than it does to solve a problem that pays you $100 million each year.”

Now, what kind of paradigm do you need to think? What are the different questions that those people are asking? How it is that you need to start thinking like that was exactly what he told me.

Here are the 3 things that I learned from a man worth $500 million:

Lesson #1: You Need To Make Sure That You Find Your $10,000/Hour Skill

Focus on your zone of genius. If you don’t love it and if you’re not good at it, you need to outsource and delegate it as fast as possible.

Lesson #2: You Can’t Do It Alone

It’s going to take a team.

Tony Robbins says, “It takes three people to build an effective business. You need the ARTIST, the ENTREPRENEUR, and the MANAGER.

You need the artist who creates the product or service that’s gonna impact the world.

Then you have the entrepreneur who finds risky ways to get that in front of the right people and put the team together.

Last is the manager who helps take the vision and helps the operators operate so that he can actually turn into one type of machine that goes from point A to point B.

Lesson #3 Ask Yourself The Right Questions

One of the biggest things that I learned from him is that every single morning he would journal.

Every single time he was on a long plane ride, he wouldn’t do anything else but write a question.

And on the top, it would be like, “How can I create a business in the next 12 months that generates a hundred million dollars a year in income?”

Try doing it yourself!

When you ask yourself that question, the answers are a lot different than what other people would answer for themselves.

EVERYTHING IS FREAKIN POSSIBLE!

Understand that the words that you write on that piece of paper are basically the blueprint to how you’d get there.

If you realize the steps to get there aren’t even that hard (especially now that you understand that the game of entrepreneurship is a collaborative approach between artists, entrepreneur and manager and leader), then nothing is impossible!

The basic theme of this content is the contrast between two things:

Instead of asking yourself if you are worthy of your goals, ask yourself if those goals are worthy of you?

And if not, you’ve got to stop.

Are you too busy playing small because of the people that are living the lives that you want, the people that are millionaires, the people that are billionaires, or average human beings that have two eyes, one mouth, have ten fingers and ten toes?

If they were able to do it, why can’t you?

The craziest thing is a lot of these millionaires and billionaires started off with less than YOU.

With less resources than YOU!

Now with the ability of a phone, you have more computing power right now than what it took to send like a spaceship to the moon back in the 1980s.

Back in the day in the early 1900’s, the computer literally needed to be as big as this room where I am right now.

But guess what? It would still be less effective than what you can actually do with your phone.

You guys need to realize how privileged you are to be in an opportunity where it’s literally FREE to get started with a business as long as you have an idea, a brand, a message, a solution to a problem and you have a phone camera and everything that you need to actually get started.

Let me ask you this right now..

What is it in your life that you think you’re playing too small?

Ask yourself, instead of being worthy of your goals, ARE YOUR GOALS WORTHY ENOUGH OF YOU?

Of your greatness, of your vision, of your dreams, of where you want to take this in the next 5 or 10 years?

Understand that the best time to get started was ten years ago but the second-best time is now.

Hope that helps!

I’ll see you guys in my next blog.

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