This is How 99% of Rich People Think...

Hey, welcome back to the show. Today I want to make a quick episode about some people I've been dealing with lately and how they think. And it made me really ponder about how rich people think. If you guys have read any of the books, Think and Grow Rich, any of these money-making type of books, they all talk about the mindset of the wealthy. And a lot of you guys know, a quick story, a lot of you guys know I run a fund. We do a lot of things out of my fund, but one of our main things is we do these small short-term bridge loans. And these loans are anywhere from, I don't know, $3,000 to like $30,000, $40,000, in that range. We usually do them to entrepreneurs. We're helping them consolidate credit card debt, a lot of different things they use for that money, but that's kind of our target audience. We have this great little niche we've found. I've done it for like 3 and a half years, okay? That's my fund. And I'm not gonna give you more details 'cause some of you guys might go steal it 'cause it's a really good idea. But, so we're giving loans to these entrepreneurs. And I like working with entrepreneurs. I like working with people that are business-minded, right? And most of the people we work with actually are fantastic. Even if things with their loan don't work out, well sometimes we give them a loan, they're supposed to use it for other things and they don't and stuff goes bad. If we're dealing with a business owner, typically, like we're speaking the same language, right? And I understand I'm talking to a sane, rational person. Well, we have a few people, obviously, that'll come through that don't think like that. They think more like, consumers. And right now, for instance, we have one guy and it's very interesting to see how he thinks, and this situation kind of taught me a lot about how people think. So about a month ago, month and a half ago, we give this guy a loan. He breaks our contract, doesn't follow through. He actually is working with another company, breaks their contract, and he's in disputes with them. They're mad at him, they're going to sue him or whatever is going to go wrong with that, and they tell us, hey, this guy, Is he's bad, like you got to go after him, get your money back quickly because it wasn't till the term of our contract we said, hey, we have this, we can step in early if we need to and see what's going on and collect on them whatever we need to do. So we reach out to him, get on the phone with him, and I mean he loses it.

F you guys, I can't believe you're calling me at my house, like how?

And we're like, dude, we gave you a loan of $10 grand, you owe us the money, like what's going on?

F you guys, I'm not paying a dime.

And we're like, what are you, what's going on? And I finally, I talked to my assistant who did the loan earlier, and he's like, dude, I don't know what happened with this guy, he's gone off the walls. And we kind of talked about it for a little bit, he actually ends up calling us back, F you guys, screw you guys, and in our contract, and we're sitting there saying, hey, let's make a plan, let's see what's gone wrong, obviously he's upset about something, let's figure out a plan to move forward, maybe he can make payments back to us, whatever it is, he goes, no, Just, and I threatened him, I said, hey, you know, if you don't want to comply, if you don't want to work with us, that's fine. We're going to send you to collections agency. They're going to go and ding your credit. They're going to put huge account holds on your credit. We can put on a $5,000 fine on top of your loan if we want to. We never do that, but we can. It's in our contract. And I said, hey, this is the route. If you want to play hardball with us, that's what we can do, but we want to work things out with you. And he just, and at this point he hangs up and then he starts texting us and he's texting us these long texts.

F you guys, I'm not paying, you know, fine, send me to a collections agency, send me to court, sue me, whatever you wanna do.

I'm done with it, like whatever. I won't even fight it, I'll give up in court, but like just, you know what, like I'll fight. You guys are trying to take advantage of me. Text him back, I'm like, what is the deal with this guy? Like why, what has driven him to push us away so far, you know? And I text him back and say, hey, you know, we gave you a loan of 10 grand, right? You've gotta, you can pay us back or it's stealing. Essentially, if you wanna steal our money, that's fine, we're gonna take legal action against you if you wanna steal from us, but we're willing to work with you. We wanna, we can make a payment plan. I know everything didn't work out on the other side of things, but we'll work out with you. And, F you guys, I mean, he's texting back, you guys are the worst, like, and I'm like, dude, I'm trying to give you a chance here.

I can't believe you're calling, you're texting me late at night now.

And I'm like, what? Like, everything we did apparently was like, The worst thing we've ever seen ever to this guy, and we sat on it, I'm like, let's let him go to bed, like we'll talk to him tomorrow or whatever, right? So we let him sit on it. Anyways, we follow up a little bit later, and we reach out to him, we call him, doesn't answer, he texts us the next morning, I can't believe you guys called me last night, it was like, it was 6 PM, it's after my work hours, I can't believe you guys called me, blah, blah, blah, F you guys, and I'm like, dude, And I, if you guys ever read the book, How to Win Friends and Influence People, great book, talks about when you negotiate, and a lot of negotiation books will talk about this, is let the other person feel like they won, right? Let them feel like they won, and they will a lot of times give you what you want as well. It's a big pride thing, and I thought, I wonder if this is a pride thing with this guy. So I text him back, and I say, hey sir, you're obviously upset, just so you know, I went and talked to this other company and I actually got mad at them for you on your behalf because it looks like they messed up your account pretty bad. Now we didn't do anything bad, right? We didn't do anything wrong, but they messed up pretty good. And I said, hey, it was our fault to reach out to you, you know, late at night. I'm sorry about that, you know, our mistake, but we're looking for a plan. Do you want to work on our team? Hey, I'm sorry, you, you know, you win the argument, but hey, do you want to work on our team with us and we can figure out a plan to help with the other company and also to get our money back? How does that work?

And he was like, you know what, you guys screwed me in the past, blah, blah, blah.

I'm like, hey, we didn't screw you over. We didn't actually do anything wrong in our way, but hey, let's put it under the bridge. I'm sorry, it's my mistake. Can we move forward and help this out? And after 30 texts of him cussing, yelling, doing whatever, the moment I told him that he won, hey, you win, you won, you were right, Can we kind of work toward this? He rolled over like a puppy dog. Yeah, you know what, you're right, you guys haven't done anything wrong. Yeah, I wanna work with you guys and I wanna move forward and let's figure this out. And I said, okay, well what's the plan? And then he starts getting heated up again.

Well, you know, you effing blah blah blah.

And I was just like, man, we are trying to give this guy a huge break, save him potentially $5,000 to $7,000 of just fees that he's supposed to owe us, that I actually could take him to court right now and win. most likely for that amount. It's easier though if he just pays us back. It made me think for a few things that I drew from this situation was number one, if you let other people think they won, and actually they do, hey, you won the argument, no worries. It could be your spouse, your kids, whatever, hey, you win, right? But let's look at, let's not work on each other, let's not focus on arguing with each other, let's focus on the problem, right? Let's say that we got a problem here, you owe us 10 grand, Let's focus on that problem and let's go from there. Number 2 thing I learned was that guy, there's a reason that guy's broke and his business is failing and it's not working. He is so difficult to work with, to communicate with, to deal with. And there's people in our, as you guys know, we have different programs we sell that teach people how to launch, scale, funds. I will actively kick people out of our groups. I don't care how much money you have, I will kick you out of my group if you're acting like that. Because I know, first off, none of the stuff we teach you is gonna do anything for you, 'cause you are not, you're always in a victim mentality. He was in this victim mentality of, I'm a victim, everyone's wronged me, screw everybody, and a lot of profanity words to everybody. It's everybody else's fault, it's not my fault. Won't take any responsibility on himself, that in reality, he just really poorly managed his finances. The other companies didn't really do that much wrong. In reality, when I look at the situation, nobody did that much wrong. He mismanaged his finances a lot. But now it's everybody's fault. It's the government's fault, it's the president's fault, it's your spouse's fault, it's the kids, or your neighbor, whoever it is. If you act like that in one of my groups, I kick you out. And I will send your money back. I don't even want your money. Take your money, I don't care. Because people that act that way and don't work in the hero mentality, I think there's 3 mentalities that I try to think about and use. Number 1 is the victim, I mentioned that. People that act like the victim. Right, the victim, the victimhood, we already mentioned that. Number 2 mentality is the survivor. Hey, I had bad stuff happen to me in the past, or something happened, but I survived it, and I'm still going, I'm surviving, which is a better mentality, right? I'm surviving, I got through my father's death, or a brother, divorce, and I'm surviving. The third and the highest mentality is the hero mentality. The hero mentality is, yeah, I went through a lot of bad stuff, But I actually overcame it and I conquered it. What's interesting about if you even look in parables in the Bible, right? It rains, you know, the floods came down, right? And it rained on every— it rains on everybody. It rains on the righteous and the wicked. It rains on the good and the bad. But it's what those people do with the rain, if they're established upon a rock or upon the sand, that makes all the difference. Depends if their mentality is, hey, I'm a victim. Oh, it's raining. There's nothing I can do about this crap. And so everyone else is fault. A survivor, hey, I'm gonna survive the rain. Or third, hey, I'm actually gonna overcome the rain, I'm gonna use the rain to my advantage. We're gonna collect a lot of water, it's gonna help us for this, whatever that is, right? And I think those 3 mentalities are crucial for business. I heard a great speaker, his name's Alex Charfen, I love his stuff. He's got a great podcast, you've heard of it, the Momentum Podcast, I love it, if you guys wanna listen to it, it's amazing. And he talks about the entrepreneur entrepreneur personality type. And I actually heard him speak on stage before, he's awesome. And he mentioned this, and I love this quote, he said, success is between the ears. Isn't that great? Isn't that relieving? It's all what goes on between your ears. When I played sports growing up a lot, and it was all on, not all, but a lot of it was physical talent, size, speed, right? And for me, I was pretty quick, I actually had a good amount of talent, I played pretty well. But I'm not that big of a guy. I'm right currently full grown, I'm like 5'11, 165, okay? That's not gonna get me a D1 scholarship anywhere, especially in football, right? I was a fast safety and corner and receiver, but it's not gonna get me a scholarship, even though I had good hands and I could play pretty well, and that really frustrated me, right? Frustrated me in sports was size or my DNA makeup, but in business, it's totally different. Success is between your ears. That's all that really matters in business. And if you can develop yourself and develop your mentality and change from that victim to that hero mentality in everything in life, change from our mentality of instead of a prideful approach to that guy— I could have gone and just said, hey, you know what, we're coming after you. I'm gonna take your— he personally guaranteed this loan. I'm gonna go after your assets. I'm gonna go after everything. I'm gonna take legal action against you, whatever I need to do. I took the humble approach. Hey, let him win. Hey dude, you won the argument, man. Awesome, good for you. You won, it's great. Let's make a solution for how you're gonna give me my money back, 'cause that's all I really want is just the money. I don't care about my pride or if he calls me an effing whatever he wants to call me. Hey man, you won. Let's just work on a plan to get the money back. I think that's the difference between people who are— and I'm not just talking monetary success, I'm talking about success in all aspects of life, spiritual, social, physical, Relationship, all of that, it all corresponds together, all links together. And that's, I don't know, kind of a— I'm jolting around a little bit here, but I thought a story that really helped me and helped me understand a little bit about the mentality of people and why some people are broke forever. And last thing I'll say is people who have a broke mindset, doesn't matter how much money you give them, doesn't matter how much benefit and welfare and socialism you give to those people, It's not gonna help them at all. There's a great quote that Jim Rohn always talked about, and I think it's so true. If you took all the money in the world and you divided it equally into everybody, in a short matter of time, it would all be back in the same pockets. I think that's so true. If you look at lottery winners, the majority of them within 5 years have lost all of their money, and these are lottery winners that won over $10 million. In 5 years, all of the money is gone. Why? It's not 'cause they had a lack of money, a lack of resources, it's 'cause they didn't know how to manage that much money. And just like that parable goes, if you gave everyone equal money, it would all be back in the same pockets in a pretty short amount of time. Alright, that's all I got for you guys today. Like, subscribe, whatever it is on this thing, and let me know your thoughts on what you guys think of this episode of this podcast. See you guys in the next one, bye. Bye.