Where To Invest For The Highest ROI: Part 2 With Patrick Donohoe #TheOnePercent

People have solutions. They've written about it. They do seminars about it, there's podcasts about it. The information for any problem is not a matter of how. It's a matter of who.

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Hey, capitalists. Welcome to capitalism.com. this is going to be part two with Patrick Donahoe. You might have heard me say something in the past. No, I'm going to act like you don't. You never heard me say this. I got a brand new idea for you guys and gals. I have said in the. No, I've never said before. You're hearing for the first time that everything comes back to who. Not what, not how, not even why, but who. At our core, we are wired to be around other human beings, to serve other human beings, to connect with other human beings. We are wired for who. The answer to everything is who. How do you grow your business? It goes back to who. What do you invest in? It goes back to who. It's always back to who. This is why I invest in masterminds, why I run masterminds. It's why I invest in my network. It's why I invest in my team members. It is why I travel to connect with people. It's why I literally carve out time just to connect with a core group of other male friends in my life. Because we don't do it anymore. We forget about the who because we can survive on our own, living in the basement, eating, eating Fritos, but it doesn't create a lot of meaning and it also doesn't create a lot of roi. So I'm bringing Patrick back on the podcast for part two of how the world's wealthiest invest and what their mindset is. And just like everything, it comes back to who. So in part one, we talked about deciding what you want, about deciding what is meaningful for you to pursue. And in this one, we talk about who. And we talk about evaluating investments, we talk about evaluating opportunities. And ultimately evaluating who you're doing business with is a much more interesting question than what you're going to do or how you're going to do it. So I hope you enjoy this Part two of Patrick Donahoe.

It sounds like you have a kind of a similar investment strategy to me, which is I used to try. I used to own a nice portfolio of single family houses. Our mutual friend Jason Hartman will stand up on, on a soapbox and Say it's the number one asset class in the world. He's done really well. He's biased on it, obviously, he's biased with it. But, but I used to have a nice portfolio. I don't do that anymore. You know, I'm not going to compete with the people who are doing that full time and professionally. So I give my money to the people who are doing that full time as a business, right?

Absolutely.

And I'm going to get, I'm going to get a piece of that action. Right. I think a mutual friend of mine of ours, J.P. newman is the same thing. Right. So it does commercial properties. Rather than me try to be a commercial investor, I'm going to give it to the group that does so.

And this is where.

That's what you mean by evaluating people.

And yes, because it's not the same thing. Okay.

Because what's not the same thing when.

You'Re, when you're doing it yourself, right. And you're giving in money to somebody else to do it for you is not the same thing.

I 100% agree.

Because you're giving it to somebody else, right? And there's obviously profit, there's business there for them.

Okay.

It's clear at the same time, you know, what are their values, what are they after, you know, when. What are their systems like? Business systems, like, it's amazing. Tom Wheelwright taught me this. He said that most businesses fail at about 30 employees, right. Once you get to like 30 employees, full time employees, that's when businesses fall apart. I think he's at 30 to 50 or something like that. But the principle was when you build to like 30, 30 employees, right. You can get away with all sorts of crap, right. You can get away with not having systems. You can get away with. You feel, you know, if you're the CEO or you know, I'm not a CEO of a company of 30, I don't know. There's no need for a CEO at a company of 30, typically, anyway, that's another story. But the idea is like, you know, CEO is doing the job of the controller, right. Or CEOs doing the job of the salesperson or CEOs doing the job. Yeah, it's one, it's one of those things where business systems, right. And these are other just things are overlooked. How to, you know, how to read a business plan, right. How to understand SOPs, how to understand a business flow and a sales flow.

I was never taught that. I was never taught that, right. But I paid the price of not having it Yeah, I paid the price of not having, you know, systems. I paid the price of, you know, not thinking that my employee handbook had any value.

Yeah. If your employee handbook is off the shelf, handbooks like, you're gonna get screwed, you're gonna get sued, and you have to pay a lot of money anyway.

There's.

It's one of those. It's one of those things where as a business owner, if you're building a business, Right. The principles that make a business successful. Right. Are what you want to look for in other businesses that you're investing in.

So I mean, what I'm basically hearing you say.

I'm hearing in my own context, my own filter. So which is I am all in on my businesses. And then I'm looking for other relationships of people who run businesses that spit off cash flow for me. And sometimes that's real estate, sometimes that is other, in my world, e commerce businesses. Sometimes there's other unrelated businesses. So is. Is your general, I guess, thesis mostly the same?

Everything that has to do with money.

Involves people. Right? And so. And that's where I look at the failure. Demise, no returns all comes down to people. It really does. There's successful businesses everywhere. There's been successful businesses for hundreds of years. Right. And so when a business. So why does a business fail if we have all these examples of successful businesses?

I mean, some would say timing, some would say economic changes, some would say technology.

Okay, so who's a company that, you know, maybe got. They were early on timing, but still. But still were successful.

I would say Tesla was early on timing. And I guess we would debate whether or not they're successful. I would say they are Apple.

Yeah. Right. So it's one of those things. So why. Why were they successful? I mean, their timing was for both.

Of those companies, they had a very central thesis, they had a very central mission that they were building. You brought up Apple as an example. I mean, Apple didn't really hit it big until the ipod. That was the thing that really went mass market. But that was just another reflection of the central mission. It was just another way that they were serving the customer. And it was almost an accident in that sense. And so I think you can be early in terms of timing. As long as if your mission is clear and you're genuine in it, then you just keep serving that person and serving that mission. And then what happens is.

The cards fall where they're going to fall.

So there's a. As you were talking, I was thinking about clients of mine. They become really Good friends, husband and wife. He's actually the European director of Financialforce, which is one of the biggest ERP software platforms on Salesforce. And she ran. She was a director of development at T Mobile and ran a huge, huge division, all the developers. And she taught me so much, just about people, about processes, about business. Even though she was in kind of this corporate world. But where she went after was she works for a private equity group and goes in and actually does an audit not of the financials of the companies this private equity group is acquiring, but the structure of people. Right. And that's, you know, she's just taught me a ton about, you know, a person, a role, staying in their lane. Do they have the quality of leadership that's actually going to make the company thrive.

Right.

And this made me realize the profound nature of the bi triangle. The Kiyosaki bi triangle.

Yeah.

I'm not sure how familiar you are with that. Right. But if you look at the most important pieces, right, it's mission, team and leadership. Right. Doesn't get into financials. I mean, in the product, mission, team and leadership. And that is where, you know, her and I have had some amazing conversations over, over the course of time. Right. Just in regards to what makes a business thrive and what makes it fail. And it's just incredible how Kiyosaki is able to make things so complicated, simple. And the bi triangle, I think, is an overstudied element of the rich dad philosophy, especially when it comes to building a bigger business.

You said overstudied, understudied.

Sorry, okay, sorry.

Okay.

I was thinking about oversight over. And I just said overstudy.

So that's interesting that team, mission leadership is. I was asked today, I was interviewed on a podcast and somebody asked me on a scale of 1 to 100, how important is product selection in business? And I said, I don't know, somewhere under 20%. And, and they said, what? This, this, this did not, this did not compute. And, and my, my thought is that product is just like another way that you reflect what you are doing as a team in the world.

Yeah.

Like, product is a, is a, is a way that you go about serving the customer, but choosing the product is much less important than choosing the customer, than choosing the team, than choosing the mission. These to me are much more interesting, difficult, for sure, and meaningful decisions to make. Well, it's.

What it's interesting is that 20, 20%, I would first say that, you know, usually when questions. And I learned this as like a, you know, I interview and talk To a lot of people. And I learned that, you know, most questions that you ask are to validate, validate what you already know. And that's why I try to repay attention to, you know, the, the questions that I asked. And it sounds like that guy kind of wanted to just validate what he wanted, what he, what he thought the answer was. But I look at the, the answer you gave, the 20% answer. I think business is like 80%. It's 80, 20 rule, right? Prado's law, 80% psychology, 20, you know, 20% tactic. And that's where it's like the product. I don't think product is important. Don't get me wrong. You can't sell something, right. Without, you know, without a good product. Same time look at McDonald's, right? That's example, the cliche example that's always used, right? Where they just have amazing business systems. I mean, I've been to their Chicago campus. They have a whole like freaking university for McDonald's to train managers on business systems, on mission, on understanding the financial side of things. But I look at business owners that are really going from this S quadrant of, you know, the cash flow quadrant to the B quadrant, right. And I think one of the biggest differences, right. Is understanding kind of fundamentals of business. Because I think those that, you know, are in that S quadrant and get, they get a good home run, a triple, right? And, and just, you know, close their eyes and swing off their events and oh, one somewhere like sweet, right? It's, it's that happening. You know, they tell a story about why they were successful and the easiest answer is the product.

And sometimes it is. But I think from a business perspective, a growth perspective, when you go to scale, there's less to do with the product and way more to do with the structure behind it.

Have you seen an example in which a business successfully made that pivot from self employed to being a real business? I have found that to be so difficult in so many entrepreneurs that I work with because there's this big switch that has to happen of what am I getting out of this to have cash flow and the life I want to actually building something. And they're almost, I've seen them be almost too different of a mindset for people to make the shift. It's just a different group of strategies.

That have to be learned.

Yep.

Well, what will come to mind? I'm sure I would, I would say that it really comes down to the hiring that you make at that level, right. You have to hire like for me One of the things I'll talk about my business, one of the lessons I learned was the importance of culture. The culture of your business, the values that you have, what's in bounds, what's out of bounds, and then setting the right expectations. And then, I mean, there's a whole list of things I can go into. Okay. But really, I lost probably 10, 10, 12 employees over the course of nine months because of bad, bad culture. And it was. It was incredibly painful. Right. And what I. What I connect the dots is I did not know how to establish a culture. I did not know how to operate a company. I just. I just didn't know. And so what did I do? I went and found someone that did. I hired someone that did. He happens to be older. He has more facial hair than I do. And funny enough, people listen to him not because he understands the business, but because he understands them.

Patrick, you said something to me privately, which was, you like to look at older generations as a sign of what younger people should do, or you look for clues. Right. I was hoping you could expound on what you mean and what you've learned. I mean, I think most of your client bases is 60 and over. Is that. Is that right? With a nice base of, like, young entrepreneurs, too, Correct?

Yeah, I would. I would say we have a. We. We did some business back in 2012, 2013, actually. 2012. There's actually still business coming from it today. There was a much older audience in their 50s and 60s. And so we. We got a good couple of years of seeing, you know, what people had done up to that point, what made them successful or not successful and what they wanted to do from that point forward. And I would say that the older generation. I'll give another example. This was a guy whose son I knew really, I still know really well. I still vox him. That's one of the guys I box, other than a couple others, but. Incredible guy. But it was with his father, and we were having a conversation about his father wanting to make an investment in this real estate syndication. And it came down to the same principle. I said, why do you want to make this investment? What's the purpose? Why have this money in the bank? And in the bank, it doesn't earn anything, so therefore, I need to have it invested. I said, okay, so what are you going to make off of this investment? And he told me, and then the questions kept going, okay, what are you going to do with that cash flow? Well, I have enough for what I live off of right now, and I'm like, okay, so what's your monthly nut? What do you need, you know, to have a good lifestyle every month? And he, you know, had retired from some, some position, had a pension and a few other things and his, his income needs were like 50% of what his income already was without that investment. And so I kept questioning and I said, so why, like, why would you make this investment if all it's going to do is give you more money that you're not spending? So again, it goes back to the same principle that we talked about before, right. Is defining the lifestyle that you want. Right. And it doesn't have to be this like, okay, this is the lifestyle I want and I'm never going to be able to grow that. You have to grow it. But at least defining something now and now you know what you're after. Now you know what the investment strategy is until it's time to decide, okay, what else do I want? Because a person going from, you know, living, living in a nice three bedroom, two bath house, right. Making $150,000 a year to go into the 5,000 square foot home or a second home, it's not a money shift.

Psychological shift. You have to have the first milestone before you can have the second milestone. Does that make sense?

Yeah. What do you mean by the first milestone before the second milestone, what does that mean?

You have to get to $150,000, right. To have the three bed, two bath houses out of the apartment and then to get to the next milestone. Right. Which is the bigger home. It's a psychological, it's a psychological shift and it's a principle of growth. Right. And so I look at this older individual and he was just getting more money. He wasn't increasing his lifestyle to correspond with that. But I think you have to.

Yeah. So what have you learned from the older clients? The high net worth, like older clients who have been in this game for a lot longer than you and I have been alive.

Yeah.

What have you learned from them? That it should be passed on to other generations.

It's essentially don't waiting to live until then.

It's living as soon as possible right now. Right. It's living for living for right now. Obviously you have to be prepared, have strategy for the future. But most people defer their life. They defer their money and they defer their happiness until some distant point in the future instead of enjoying life right now.

How, how does that philosophy impact investing strategy?

I think it helps you actually make better decisions and you ultimately have, I think people overshoot their Investments, Right. They think they need more than they actually.

Well, they think they need a bigger amount of money than they actually need, right. Whether it's to do the things that they want to do with their family, right. Whether it's to live in a certain home or drive a certain car. The things that make them happy that have, you know, help them to achieve whatever, you know, milestone of fulfillment they're after.

Why do you say that people need less money than they think they do?

Because it's all this. It's all a process in the mind of what they think they need. No one ever actually sits down and, you know, budgets out exactly what they. Exactly what they need. Plus, with all the different choices that are out there, right. It's much easier to achieve whatever you want to achieve these days than before. But yet most people's mindset is still in the past, right? So I would say, like, let's say you want to go, you know, on a trip to Hawaii, right? There's all sorts. There's a million resorts there, right. There's different seasons, right. A person may think that they need this amount of money in order to get that, but if you actually sit down and budget out and actually do the financials, it takes much less these days. That's what I meant by that.

So we've talked quite a bit about defining what it is that you want before you. Before you fire. It's like measuring twice before you cut. And I think that is like the actual hard work.

When you describe someone else's problem better than you can describe it yourself, you just assume that they have the solution. So right now I just assume that you have the solution to this problem. And I'm hoping you could comment.

No, people don't. People already have the solutions.

Right.

I was telling you about, you know, earlier of this, of an event I went to in Europe, and it was a day that was specifically for a group that makes a good deal of money. And there was seven hours of hot seats. It was fascinating. There's only like five hot seats in that entire time. But it was fascinating, right, because this event, it really went through kind of business psychology, business systems, investment psychology, investment systems. And here's this guy, older gentleman, right, and had achieved a lot in his life, you could tell, and had ownership in a really successful business in South America. And he had this challenge of raising a certain amount of money. And he. He got to the mic and all he did was make excuse after excuse after excuse of why he didn't have that money and why he Couldn't get it. Okay. It didn't go into just a very simple switch in psychology of asking the question, how do I get it? And it was interesting. Just over and over and over, he just kept getting to this point. The solutions from the two people that were running the actual hot seat, this solution, that solution. As you thought about this, did you do this? Did you do this? No, no, no. Because of this? No, no, no. Because of that. Over and over and over and over. And then finally, the guy that was the actual head moderator said, okay, I'll write you a check for $10 million right now. Pitch me on your business.

And he couldn't do it. So why couldn't he do it?

Because he didn't know what he wanted or why he wanted it. He was.

In his own way. He was his own worst enemy. All the solutions were there, which is the point of I'm telling the story. He knew what to do. He knew he had to go to. Okay. And ultimately, the hot seat ended really well. Right. But that question was the catalyst. Right? I'll write you a check right now. Pitch me on your business. So he didn't have a good pitch, Right. That was there. If he was asking better questions. Right. The people that actually fund the deal, they were there. He came up with them. Right. It was just. He was in his own way the entire time. All it was was an excuse of why he couldn't, rather than how could he.

And how did that end?

Yeah, he made it. Made a commitment that he was gonna pitch these amount of people, like, the next week.

And so it was a matter of, like.

Well, first off, it was two decisions. Are you gonna sell the business? Right. Or are you gonna continue the business? That was the first. That was the first big thing. I left that one up.

Okay.

So he decided to keep the business and actually meet with these people that would fund it.

So what was. What was the big shift that happened in that individual? Because.

Questions.

But what you described is that this person couldn't pitch it because they had no, like. They had no reason why. So what shifted in that individual?

He, I would think, made the decision that he wanted to continue the business. I think that was the main challenge that he had. Should I sell or should I keep it?

So, Patrick, I want to play with an idea with you.

I mentioned before that we need an aim. And part of my. What I've evaluated or, like, my own challenge at times is just finding which one is a worthwhile aim. I think this idea is why somebody like Jordan Peterson has caught so much fire in the last couple years because he's identified this idea that we're not really happy without an aim. And in our modern world, we don't have any reason to have an aim because we're just like, food is everywhere, most of us are overweight. We can sit around all day and survive. So there's a matter of we're not given an. We're not forced into choosing a name like we, We. We are. We can be lethargic and still survive.

Yeah, It's Haiti versus Switzerland.

Yes. So for me, it is. Sometimes I just pick a name because I have to get up and start moving.

You gotta make a decision. That's where it starts.

And then it's finding meaning later and refining later. And you can.

I agree with that. I agree with that. Because do we really know what our aim is? Do we really know what we're after? There's no, there's not this, like one. There's not this one thing.

It's a.

It's a journey, right? But you need to decide something and take action on it. And in that action, you're going to experience more of what you want. Then you set another aim, another goal, and then you go to that point. Yeah, I believe that there isn't necessarily this one thing that we're supposed to do in life.

Yeah, I agree with you.

I think the environment is, Is vital. And that's why I brought up Haiti and Switzerland, right? Because if you look at, you know, the history of Haiti, right? It is a beautiful, you know, beautiful island in the Caribbean, right? Fertile soil, fruit everywhere. You know, 100 years ago, it didn't take much to survive, okay. In Switzerland, however, okay, nothing can. Not much can grow there. Really harsh winters. So why today does Switzerland survive and Haiti is one of the poorest countries in the world? Right? It's because Switzerland was forced to survive, Right. It's built into their DNA. If they didn't prepare for winter, they died. In Haiti, they. You didn't have to prepare, okay? And I look at today, people want. They don't. They're afraid of conflict, they're afraid of hard things or afraid of pressure. Okay, but pressure. That refining process, right, is where we learn what we want. So I think you definitely have to go through that. And again I go to why, you know, I don't not invest or do business with someone that has not failed in the, in the past, right? It's because they don't understand that principle unless they've actually forced it upon themselves.

Which you can do when people start working with you. And my assumption is, at least coming into this conversation, my assumption was that these were people who had pursued something for a reasonable amount of time and now they were refining and they were looking for help on the investment side. And you've kind of thrown in that a lot of them don't know what they want anymore. So how do you help them?

It's subjective, right? I think a lot of the questions that I've asked you. Right. Is what I will ask them. So there's no one, there's no one solution for, for everyone at the same time, there's some similarities, right? So the first thing is, again, it goes to that gap, right? There's where you're at and there's where you want to be. Got to figure out where you want to be, right, before you can start strategizing on how to get through or over that gap. Does that make sense?

Yes.

Right. And then the gap is easy. The solutions are out there, right? Finance, I mean, finance is way more complicated than people make it out to be, right? You, it's way more money or made less complicated. Sorry. Thank you for correcting me on this. It totally would not come out right in the coffee. No, it's, it's, it's way less complicated than people think. Especially, especially today.

So, so explain what you mean. Why is it, why is it less complicated?

Because there's so many options of how to make money, Especially if someone like a business owner, right. Has achieved for themselves. I think that the best thing to look at is where their skill set is and what they're going to do right. Before they figure out what that next step is. Because that next step or that aim, the other side of the gap could be the lifestyle that they want. It could be things that they want to do with their family. It could be things they want to do charitably, but they still have to figure out what they're going to do, right? So I think that's first, first and foremost, then it's figuring out, okay, where's their financial statement out? Most people don't really have a good living financial statement, believe it or not, even really wealthy people. And some do. Some have good accounting, right? So it's just a matter of sending a financial statement over. But looking at where they're at, right? It comes down to, all right, how much more money do you need at that point in the, in the future, right? And now it's a function of, okay, what type of rate of return are you going to get? And surprisingly, some people don't need as much as they think they need or they need a much better kind of tax efficient return. And ultimately you find that a lot of tax efficient returns are less, but they net out at a very similar rate. Net out meaning after taxes, they're similar to an investment that's taxed at or that earns a higher return but is taxed more.

Well, Patrick, I know you've written a book, you have a podcast, you run Paradigm Life, you do a bunch of things. Where can people find out more? Where can people follow you? Yeah.

I think that with you to maybe fill in a lot of the voids that probably exist right now and what people have learned with what we've talked about. I think the book, the book took. Took me two years. Right. And it really provides a kind of comprehensive philosophy that, that I have. And, and there's also an audiobook. So I read the. Read the book. Not read the audiobook, but read the book. So it's. It was a really difficult time. It was really enjoyable and I can.

Are you going to tell people what it's called? Oh yeah, yeah, go ahead.

I'm sure they can just. I mean Patrick Donahoe isn't like a, you know, common name, is it? It's heads or tails or Heads I win, tails you lose. I can't remember the name. Heads are heads I win, tails you lose. A financial strategy to reignite the American dream. And the website is Heads or tails I win dot com.

And your company is Paradigm Life.

Yep. And PL Wealth Advisors. And I'm also an advisor with Prosperity Economics Partners.

Beautiful. And who's your. Who. Who should reach out to you high net worth individuals who are scattered all over the place and need a, A plan for them to build something for the future. Yes.

Yeah. And those I would say who are maybe less successful as well. I'm not sure who your audience. Who your audience is and how dare. And we can, we can break script. I mean. Yeah, because we, I have 20. I mean I have 20 advisors. So it's one of those. We have guys that basically run our high net worth people, but then we have our average clients, probably million bucks net worth, 200,000 a year in income. So how do you want to pitch that?

I think you just did.

Okay.

Well, Patrick, I'm really excited about what, what we're up to together. I'm really excited to. I mean I think a lot of people know this story. I met Tim Ferriss because of you at least one of the times. And we had, we had dinner with him in a night I won't forget. You're kind of one of the undersung heroes in our world because you're kind of behind the scenes and you think you prefer it that way most of the time. And so I'm just excited to be, to be bringing this to world. Thanks for hanging out with us.

Well, that might. Do you want to go into that? Like the whole idea of relationships?

Yeah, actually, let's do that.

Yeah. I think that's a huge, a huge principle.

So one of the things I've connected, and this is one of the reasons I do the Tony Robbins stuff is, is I want to be around. I didn't like to be around people. I was really introverted growing up and dude, so this is totally true story. Don't put this on film or maybe you will, but my. So my wife, I'm married almost 16 years. She was like my first serious relationship ever. I had kind of like this kind of girlfriend when I was a senior, but never anything serious. And so I'm not sure when it was. I think it was the financial crisis that was very kind of traumatic for me. And I just connected this idea of being around people with who I wasn't. But I wanted to actually be around people. I love people. I love learning from them. When you learn from Tony Robbins, proximity is power, right? It's not about how, it's about who. And that's where I've built a really cool network of people that inspire me, that teach me, because I think we all need it. We're all looking for that aim in life and it's this never ending pursuit. But there's a lot of shit online, but there's a lot of amazing people who understand those principles and want to guide and create value. And Cameron Herald and Simon Sinek, I've never, I've met Cameron Herald a few times. Never met Simon Sinek, but like when I was going through that heartache with culture because I, you know, had a huge falling out with guys that became my friends and with a sibling of one of the leaders of the company and several others, a huge cultural fallout and dude, it was heart wrenching. But those two guys, like people have solutions. They've written about it, they do seminars about it, there's podcasts about it. The information for any problem is not a matter of how, it's a matter of who.

I think my takeaway there is, I think the greatest investment you can possibly make is in relationships.

Million percent man.

And it's why, I mean, I was I was telling somebody today, they asked me what the greatest breakthroughs in my career were. And I said they actually came through the trough, like after I had gone through a hard time and I was humble enough to create new relationships. And, and when you, When. When you set up your life to get around the who, all the other stuff just kind of works out. Shakes out.

It totally does. And it's interesting. I think we're. If you look at our DNA, it's hardwired in us. We didn't used to sleep in separate rooms. People always slept together. They always ate together. It's built into us. But yet today, in a sense, we're connected, but we're not connected. People don't have to leave their home and can eat and be online, but there's something about physically being with other people and learning from them and. And connecting with them. It's one of those other human needs, the need for love and connection. So I look at that, and that was something that totally transformed my life, is wanting to be around certain people because of who they were and what I could learn from them and what I could teach them. That's where the ultimate value proposition exists, is with relationships.

I have nothing to add.

I mean, I think that's fundamentally why we do everything.

Yeah.

I mean, the only reason why we even care about investing as a topic is because there's some wiring in our brain of connecting to other human beings. And it's almost embarrassing how primitive it becomes when you break it down to what actually drives us. We're made to. We are driven, I think, by two things. Fear and love. Fear is survival. Love is survival of everybody else. Love feels good. Fear feels bad. We don't want to die. It feels good to be in a position where we're not going to. Where we're not going to die and we can take care of other people. That is what drives us at the end of the day.

Yeah.

It's to avoid.

Yeah. Avoid pain or to get some pleasure.

How do we get more pleasure? Patrick, take us home.

All subjective. It's all subjective. You gotta sit down and really think about what you really want. And don't get up until you ask yourself, why? Why do you want that? Why do you want the business? Why do you want this lifestyle? Why do you want to move there? Why do you want to stay here? Why do you want to drive that car? Why do you want to wear those clothes? Why? I mean, just keep asking yourself why?

Why?

And you're gonna. And you're gonna connect to Something, it doesn't mean that's what you're gonna connect to in five years or 10 years, but you're gonna connect to something now and put that on paper, decide what you want, and then go find the people that have achieved it and figure out what they did to get.

I think if you decide what it is that you want. I once laid out the five steps to freedom. They were decide, cut out, expand, invest, and give. And the number one was decide. Because if you cannot make that, if, then you are just guessing. And you don't ever get what you want because you never define what you want.

Have you ever. Have you taken your daughter to Disney World or Disneyland?

I have not. No.

All right.

But you've taken her to some pretty cool places and have her. And have had her experience certain things that just, like, lit her eyes up, Right?

I mean, she has been to Cleveland, Ohio. Patrick.

Wow.

Yeah.

Did you go to an Indians game at least?

Sure. Hell yeah. Are you kidding?

But that's what it's about, man. It's like. And that's with other people. It's with other people, too. When you. I don't know. There's something. And this is where it comes to, you know, connecting with customers, Right? Because business is about the value you provide to customers. When a customer gives you a good review or says something nice or their life changes because of a product or something you've said makes. Dude, it makes everything, everything worth it. And.

Seldomly do people then connect the dot between. Maybe that should be my focus on everything that I do.

Well, Patrick, I'm really excited to be doing this with you. Look forward to hanging out with you more.

Cool. Yeah, me too. Thanks for joining us on capitalism.com thanks, Ryan.

Hey, gang. I hope you enjoyed these. These two interviews I did with Patrick. I hope you can tell throughout all of the. All of the content that we do here@capitalism.com as your host. I'm on a journey, too. You know, I'm learning stuff, too. I'm figuring stuff out, too. And part of that is.

I am developing my who too. I mean, I'm figuring all of this out, too. I run masterminds and have workshops at my house. I'm actually gearing up for one right now as I'm recording this and I'm building my network and I'm growing. I'm doing all this, too. I'm on a journey, just like you are. And I hope that by you following along the journey, you're getting insights into yours, because my entire goal here is to just help you make yours happen faster. And there's something that I have been doing a lot of, I guess soul searching around is getting back to who's my who and going back to what? What is it that I want with these people? That's hard. Those are really hard questions to ask. It's a lot harder to ask that question than asking, what product am I going to sell? Or what's the next thing? How am I going to make my next dollar? Those questions are actually really easy. When you do the hard work of asking what's meaningful and who am I doing this with? That's hard stuff. And it's getting harder because we're so disconnected from one another. It's getting harder because there are so many options for us to pursue. Deciding what's meaningful and deciding who we're going to do all of this with is probably a harder decision to make than ever. But it's also the decision that sets you free. And so something that has helped me is just deciding what and who that's going to be for now, knowing that I can change it later. Because without clarity of purpose or decisions or a team around you, even if it is just your family, who are you all in this with? You don't go anywhere. And so your life adapts, your life changes, and you might have a different what and a different how and a different who five years from now, but just picking one and going for it for now has given me a lot of freedom and a lot of progress. So if nothing else, rather than sitting there and thinking about what you're going to do with the rest of your life, what are you going to do now? And go all in on that. You can always change later. Would love to hear your thoughts on today's episode. Leave me a comment over@capitalism.com or just shoot me a message on Instagram. I'm Ryan Daniel Moran. I always root for you and I hope to see you on the next episode. See you then. Foreign.

Real quick if you enjoyed this interview with Patrick Donahoe from Paradigm Life and you'd like to start learning and implementing the financial strategies of the world's wealthiest people, Paradigm Life is giving away a Free Perpetual Wealth 101 Guide to Capitalism.com listeners, just visit capitalism.com paradigm and you'll get exclusive access to this free course that will take you down the path to financial independence. Visit capitalism.com paradigm that's capitalism.com P A R A D I G M Paradigm capitalists like you create the change we need in this world. Thanks for listening.