Getting This ONE Thing Is The Key to Creating Wealth...

What is the fastest path to money? Find out what you're good at. And then you need to use it to get ownership. You can be W2 and have all the benefits they're in while simultaneously having ownership. The agenda goes like this. You leave here knowing how to get a percentage of a company with your mind that you learn to never trade your time for money again if you don't want to. How to set up structures that pay you for the work you've done today for years to come. This is going to change my life forever. To make you more money than anything else on the Internet. What do me think about that? Does that sound like a fun idea? All right. Or what? I am calling how to build bank accounts so big that you get to choose to work but never have to again. And I don't know, but when I think about big bank accounts, I think about this guy, Lauren Sanchez. Comes with it, doesn't come with it. You guys get to choose. But the idea here is that I have a belief that money is purely a tool. And it's a tool on which you get to decide what world gets architected one way or the other. And I'm really not that big into big boats, big buts, any of this, but I am into architecting a world that we think should exist as opposed to having to live under somebody else's rule. And so what I'm going to talk to you about is how to flip the script a little bit. And this is the process that I used to build all of our companies at Contrarian Thinking. So whether it's Contrarian Thinking Capital, which is our venture capital fund, whether it's Main street holding company or holding company, whether it's our media company, it all started with this tiny little seed of an idea, which is usually how things work out, right? And so today, I got a pretty quick agenda for us. The agenda goes like this. To start, there's five points to it. Point one is you leave here knowing how to get a percentage of a company with your mind, which is something that I didn't think was reasonable. I'm not talking about magic. Point number two is this, that you learn to never trade your time for money again if you don't want to. I end up working a lot because I like it. But I want to choose. Step three is how to set up structures that pay you for the work you've done today for years to come. So how do you annuitize the work that you do? And step four is a little counterintuitive. Why you should actually charge less money now for a bigger percentage later. And we're going to flip the lid on how most of us were taught to negotiate. And then finally, how do you make offers so good that the owner that you're going to get a percentage of their business from asks you to do the deal? How do you get other people to proactively ask you if you will take a percentage of your business? That is the idea today. And I'm calling this expertise to equity. Anybody know what Tender two means? And no, it's not an Elvis Presley song. Anybody know? Tender is a word that means to offer. In finance, tender offer basically is a way to make an offer, which is what apparently the man, the myth, the legend, Jeff Bezos named his boat. So we're going to talk about how the billionaires make offers in a way that nobody else does. And what's crazy is I learned this with a bunch of people who had way more money than I did on Wall street, who had done deals for decades. And I was a little public school kid, I used to think that a mutual fund was like mutual fun, like, everybody has a good time. I had no financial literacy whatsoever. And I remember one day, this guy whose name is Dan, he showed me a picture. We were traveling around Latin America. I ran a big investment portion of that portfolio then. And he showed me a picture of his new house. And I was like, dan, this thing is huge. I'm like, how'd you afford that thing? And his answer really surprised me. I thought the answer was, was going to be something like, I have worked at the firm for a long time, so I have a big salary. Lots of people in finance make millions or tens of millions of dollars a year as employees. But the real answer was something totally different. The real answer was this very simply, you need to find out what you're good at, and then you need to use it to get ownership. And I have used that one sentence to make tens, if not hundreds of millions of dollars over my career. And I want to explain something to you a little bit. So in finance, if you were to talk to, like, an ex Bain investor, so Bain Capital, or an ex Goldman Sachs portfolio manager, or an ex kkr, like the big private equity firm, if you were to ask some of the partners at that company how they make money, and they would tell you, which they would not tell you, so good luck asking, but let's say you got them to do it. What you would find out that's fascinating is they don't earn their money from salary Lord, no. They want long term capital gains, right? They want distributions as opposed to salary. And what's interesting is if you talk to somebody at these big firms, they make their money in little chunks. Every deal that they do when they're a partner, they get a piece of in perpetuity. When they have a fund they're a part of, they get a piece of that fund in perpetuity for the rest of their lives. And so if you become a partner in the firm and a partner in multiple deals and a partner in multiple funds, you can be W2 and have all the benefits therein while simultaneously having ownership. And I remember when somebody really broke this down for me, when Dan broke it down for me, I thought, this is going to change my life forever, this small thing. And so I share it again and again and we're going to break down the details of how it works. And then I started to realize this truth, that if you want to be rich, you should actually try to figure out the fastest street to riches. And so typically, we do this in every aspect of our lives, right? You want to go somewhere to, you need to get to the airport quickly, what do you do? You go online and you use Waze and you try to find the fastest direction. In no way, shape or form are you just like, I'm going to try a bunch of streets and whatever street I'm most comfortable with, I'm probably going to just continue on that one for a while. That would be dumb. And yet in most of our lives, that's what we do when we make money. We don't actually think what is the fastest path to money. We think, this is the path that I am closest to. And let's take it. But let's break that down for a second. Bear with me. Graphs and numbers at the end of the day. I know, but I don't want to be a dancing bear. I want you guys to make some money. So let's play this game here. So basically what you're looking at is since 89 to 2010, the difference between the S&P 500 and private equity, which are really just private assets of anything. And what you can basically see here is a big delta, a big difference between the two. Okay, one interesting time period. Well, let's look from 2000 to 2021. Private equity, public stocks, big delta. What also is interesting on top of that is let's look at what's called a risk return profile. So when I look at the risk return profile, the least risky thing I can do is what cash? Right. Except in this environment under Biden, but neither here nor there. Now, in cash, typically you're safer in emerging equities. Like in Latin America, you're less safe. Right? You're probably more likely to lose money if you invest in Africa, theoretically if you invest in Honduras, than you are the US government, at least historically. Okay, so that's the risk. Now, from the return profile standpoint, you've got emerging market equities, one of the highest return profiles, but you've got private equity. So just think about this for a second. If you just want to know the fastest way to get to your destination monetarily, you want to figure out, where can I have the least risk but the highest roi? And what is the answer? It's private equity. So why would you play any other game? If you know that you have a higher statistical likelihood of winning with a path that is predisposed for more people, why pay anything else? And sometimes I just sit back and I look at this image of Jeff and I just think, this is what it must be like to be a billionaire. You know, he's just like. And I think I want to be so rich that when I laugh, I look like a maniacal dictator. And I'm. I'm not there yet, but I'm like, you know, hopefully getting close. So if I wanted to be this rich, the data tells me I want to own private companies. I want to own private companies over the long term. And let me prove to you why one more time. Anybody know these strapping jets? Somebody knows Robert Smith. I bet it's not before he donated a bunch of cash. Bet you guys didn't know him prior to that. Anybody else know the other guys? Okay, we've got Leon Black, who was the head of Apollo, worth $9.9 billion. We got Henry Kravis, one of the partners at KKR, world's biggest private equity company, $8.5 billion. And we got Robert Smith Vista, $6.7 billion. They doing all right? How did all three of these guys make their money? Private equity. Here's my rub, though. Here's my rub on this. Sometimes I think that the people who get really rich probably shouldn't. This guy, Leon Black, ended up paying $138 million in fees to Jeffrey Epstein. Not a great look. Robert Smith ended up paying $139 million for tax evasion, biggest payment ever to the IRS. So I have a problem categorically with when 28% of the Forbes 400 richest people in the world's list are all from private equity and yet they own most of the companies in the US I have a problem with that. I think instead of the few owning everything and anybody being so big they get to write 139 billion dollar ticket to the government like a parking ticket, probably not being awesome. I think this room should have more ownership in multiple people's hands instead of a bunch of ownership in the hands of the few. And so we're going to talk about how to push back on this trend. And I think that this may be the most important thing we do in this country and maybe around the world, but I know the most about this place is that we figure out how to have normal people like me and you own our communities. You guys hold the hand down to the next generation. And I really want everybody in this country to be rich, But I especially want the people in this country to be rich who are going to help the next generation. Not going to keep them. And so I want to talk about how you can become owners in private companies. This is not my best look. Now this is where typically people go, Cody, that sounds awesome, but I forgot to tell you that my mom never gave me the Silverstone. And so I don't have millions of dollars to buy small businesses. I don't have millions of dollars to invest. So how do we do it? And we're going to focus on this one main idea. Find out what you're good at. Use it to get ownership. And this is what I call my expertise to equity framework. Typically, I only talk about this in my business buying community because I think that when you become an owner, it comes with a lot of responsibility. So I'm very careful who I pass the baton to. And if you're going to ask for a percentage of some owner's business for nothing but your mind, you better deliver. So if I tell you guys how to do it, you guys promise to do right by the owners that you get it from? All right, all right. I don't want to hear about you guys paying bills to Jeffrey Epstein, okay? All the dudes are like, this is getting weird. All right, so let's talk a little bit nerdy. Are you guys okay with me getting technical? We got spreadsheets in here, We've got graphs. I want us to focus on making a little money today. All right, so let's talk about expertise to equity. Words mean things. And when you understand the definition and terminology used by those who run the world, you can speak their language. When you speak their language, you can manipulate the language. You can manipulate the language. You can make money from the language. So what do I mean? This means that you contribute your time, effort or expertise into a business and you get a percentage of the business for that. There's sort of three ways I like to do these deals. A revenue share, a profit share, or an exchange of value, which we'll just call straight equity. So when you do a deal, you can either say, if I give you my expertise, I want a percentage of the top line revenue of the company, or you can say, I want a percentage of the profits of the company, or you can say, I want a percentage of equity. So if you sell, I own part of the equity of the company and I get something when you sell. Make sense? I want you to remember this line. You can't eat equity. The past two years have been absolutely crazy. We have taught 3,000 people how to buy businesses. We have done more than 100 deals over the past 10 years. We actually invested $12.5 million into businesses just last year with mostly my own money. And I realized through this whole process that we made so many mistakes. I learned all the things not to do again and again and again. And somebody asked me three years ago, which is why we started contrarian thinking, can you create a process to show us exactly how to buy businesses like they do on Wall Street? And so we started doing that. But I've learned a lot in those last three years. So I created something and I'm talking about it for the first time ever on YouTube, because I usually don't. I don't know if all you guys want to buy a business, but I created something just for all of you. It is a step by step accelerator on how to buy a business and on how to use both your expertise, your time, money, SBA loans, and lots of different mechanisms in order to figure out, do you want to buy a business? And if so, how do you do it? If you guys want more information on that, there's a link below. The truth of the matter is, business is hard. Buying businesses is hard. But I don't think I've ever met somebody who regretted learning deal making. Learning deal making was the most impactful thing that I ever did in my life. I think it might be in yours too. So click the link below if it's interesting to you. If not, let's get back to this video. So when you're doing these deals, the number one thing you can mess up is doing them just for straight equity, not cash flow. So do me a little favor. Promise me that you'll do what the private equity guys do, which is you take a percentage of either profit, revenue. We can slice this 15 ways from Sunday. And also value or what is straight equity. The next thought here is that you want to do deals that feel so unfair to you that you get slightly uncomfortable. And let me tell you why. Because anytime you promise to give me a part of your beautiful mind in order to have a future potential profit, AKA percentage of equity of my business, who knows more about the business? Me, who's offering my brain or the business owner who already owns the business owner? The business owner. So you are at what, an information disadvantage business. Because of that, you need to require what a deal advantage. So never feel bad for doing lopsided deals when you don't understand somebody's business like they do. But what I will say that's really, really important is I want you to remember why we're doing this. You don't just want to get rich, you want to get free. And so when you're doing deals that trade a little bit of your brain for a little bit of bank account, I want you to make sure that you're not trading yourself into a job you can't get get out of. With equity you can't eat just for hopes and dreams in the future. That is a path to ego and not bank account. All right, so there's three levels of thinking typically in doing deals. Level 101 is basically, how do I get monies? And whenever I think of monies, I think of this guy. Anybody else? Monies. I like the first mindset shift. I think you guys already have. We don't trade time for money anymore unless we really, really want to. 202 level thinking is you use other people's money, right? This meme gets me every time. How many of you guys know private equity guys? They're like, I don't know about you, but my pipeline is pretty big. This is a private equity joke. Gets me. You use other people's money, right? The third level is what I'm going to teach you today. And this level is all about how do you get a percentage of a business that you have no fucking qualification to get? Welcome, Ryan Reynolds. Why does a comedian own a percentage of Mint Mobile that made a billion dollars? How do you structure that deal? And oh, by the way, do you know how much money he put into this deal? $0. Well, he did it because he understands expertise to equity. He had audience, right? So he had buyers. He had marketing expertise. Funny, he has a name that is A trust transfer team. He brings them in his marketing shops to this and zero dollars. That's how he gets expertise to equity. Now this one's interesting. Anybody know who this guy is? Drew Brees. All the dudes. Yes, I did it. My husband had to tell me this one. But what's fascinating, this company reached out to me down here. Look at these companies. Drew owners, part of a garage company, part of a health care company, part of a mosquito company. Why do you think people are watching Drew Brees going, wish I could buy some mosquito repellent off that guy? Probably not. And yet the reason that he does is because he partnered with a group called Franworth. For his audience, maybe, but probably not for his name. Trust transfer, definitely. Maybe the team, but flipped. Drew probably does no work with these guys. He just pings people and goes, hey, you want to do a deal with these guys? And people go, ah, that's Drew Brees. And then they maybe do a deal. And so you start to see that there was this lie we were told that you cannot buy things, you cannot own things, you cannot get things unless you have money. And that is actually not true. You have a bunch of other assets in today that we have never had in history. So we're not just focused on money. We're focused on how do you get it even when you don't have the dollars. Now, right about this point, people go, that's awesome, Cody. I forgot to tell you, I'm not the rock. So I'm not sure how I'm going to use my trust transfer for me and my mom in order for me to own part of a business. And I get it, but I'm going to show you at least how I did it, because I think one of the best ways to learn goes back to how they used to teach us in universities, which was the Socratic method you use by questioning and you use by case study. So we have a VC fund. And right now, which is probably going to make my husband, who runs it in the back, really unhappy. I'm going to show you exactly how we do deals that are totally unfair in a way that I haven't shown anybody before. Sound good? Chris is like, no. Okay. This is our venture capital fund. It's called contrarian thinking capital, where we invest in boring businesses. Plus plus technology. And what's interesting about this, and you guys can see more, I think, on the next couple slides, if you want to copy our homework. We don't just do normal deals in this because I think deal making is your key. To wealth. Let's give you two really specific examples. So we have company A, where we got a 2x cash investment of additional advisory shares for every dollar we put in. So that would be like if I gave them 100k, they gave me 200k back. And then company B, we got 20% of contract value generated by us, and then we use that contract value to buy additional shares. What does that mean? Basically means if I said we invest $100,000 and then we generate for you another $100,000, I want to have 20% of that in equity for your company up until a certain point, which is called a cap. Up until a certain point that that's a cap on the return that you can get. Now, when you start thinking this way, you will never do deals the same, because what just happened, I took $1 and I turned it into 2.2 dollars with one transaction done intelligently. And I want you guys to think this same way. There's a beautiful statement I'm sure you guys have heard before called riches is in niches. Right? And I used to think that meant that, that when you got rich, you got it by what focus. You focus on a niche and then you know it really well, and then you get rich. Right? That's kind of what they taught us. But it's actually different than that. It's when you are in a small market and you can be a big fish in a small, relatively niched pond, you have unfair deal access. And so I want you, while you're listening to this, your brain cells to start spinning. The idea at CT Capital is that small checks make a big impact. We don't ask for a lot of your company because our checks are small, but we are going to ask for upside. In order to get it, you have to be able to show what you can deliver. This is called your investor flywheel. So here you can basically see every investment we make goes into our giant audience and community and drives additional dollars. If you guys are out there investing in deals, make your own flywheel. The second thing that you can do that's interesting is, is you can do what we did for one of our investments. We basically said, let's try an experiment. If we post about you and you do a bunch of demos, could we get more equity in a company? And they said yes. So every single deal you do, how much less risk do you have? If you decrease the amount of money that you put in and you immediately give yourself 100% more potential upside, you have netted out your risk in the deal many ways. So there's two ways to learn this. You can learn by investing my two cents. Every time I go into a market, I start by letting somebody else who's an expert invest my money. Because the fastest way to learn is by watching an expert do it and having skin in the game. And the second way is by doing. Then you go out and you do the same thing. So there's five things I want to cover to figure out for you guys. How do you get the rock level equity with normal, everyday biceps, you know? And that's what we're going to focus on here. Very nice. How much? Everybody remember this line from Borat gets me every time. And I want you to think that in your head. Very nice. How much? How much can I get out of this transaction that I'm going to do? Because I'm worth more. So we're going to teach you four questions that when you answer these in your head, you will know. Very nice. How much? Every time you do a deal. Okay, that's my last Borat impression, I promise. All right, we're gonna start with understanding your value. These are the four questions. What's your experience and expertise? What can you give instead of money? What are you willing to do? What is that worth? Let's break it down the first one. You start by listing specifics. You're gonna put your marketing and sales experience on the left. You're gonna put your industries to the right. But I bet a bunch of you guys have an ancillary industry. It might be mtr. It might be str. It might be that you understand hotels. So that's your industry. Now, we know your specific niche. Your skills are simply someone else's needs, and we're going to help you find those. So now that you understand what your experience is, the next level is what can you give instead of money? Now, this is juicy, because I want you to take this graph. Use it later. If you're in finance, you know, there is nothing better than stealing somebody else's model. And I don't mean Giselle. Okay, now, time. First, you want to think about how much time do you want to spend on something? Second, you want to think about what is a specific deliverable that you can deliver. Third, are you an expert and so smart on something that you could give advice instead of money? And then connections, could you get them to the one person that would change everything? Finally, the most important, the holy grail to you, getting more. In every deal that you do, can you promise them an outcome if you Let me invest X, I will make you Y. That is how you get the easiest dollars in the next one is what are you willing to do? Lots of people will tell you what they want. They'll tell you their goals. But the secret between people who achieve their goals and those who talk about them for a long time is those who achieve them tell you what they're willing to say. Sacrifice, not what they're willing to want. So let's think about this for a second. Normal people go, I will take a 5k up front plus a percentage of any business if I fix it, if I do advertising for it, if I drive sales, I want you guys to do the opposite. I want you to say, I will take only 1/5, 1/3 0% of my upfront fee, but I want upside if I hit my goal. And then lastly, how do you decide what all of this work you're doing is worth? And this is where we're going to get slightly technical. I want you to go from effort to results based Effort is how we got taught to value our work. I'm going to work 40 hours per week. I'm going to work 60 hours per week. I'm going to work the next three months on this. Who cares? Do I care if you worked 100 hours per week? If you you didn't achieve the thing? Bosses, you know the answer to that. It is no, don't care, achieve the thing. If instead you can say, my expertise will increase the value of this business by 3x, you're in the money. So there's two ways to value your expertise. The first is profit value creation. I will drive X in profit. The second is performance metric. I will do X action. What is X action worth to you? So I like to break it down like this. Let's go really simple. So tell me, what do you do for a living? Cameraman. Social content. All right, so do you make money by charging people for growing their social media? For covering their social media? Correct. Okay, so in your instance, you could say something like, if I can guarantee that my videos will drive 300,000 impressions to your business, would it be worth X percentage of the revenue off of your Instagram account? The difference between you having to work the rest of your life behind a camera lens if you don't want to. If you want to, that's a different story is can you get somebody to pay you not a dollar now, but a dollar in perpetuity? And so we want to switch the flip on how many of you guys charge and how you charge. But the beautiful part about this, and we'll get to how this works, is I'm also going to teach you how to make an offer. So good, Jesse's going to ask you to do it. Okay, now here's the value matrix. We're getting technical public math. Pull out your calculators. All right, we got scenario one, a current bin. In order to ask for value, you have to know what something's worth, right? If I was to guess what this event cost and drove in revenue, how hard would that be? I'd go, well, 2, 4, 6, 8. There's probably about 700 people in the audience right now. Okay, 700 people times X ticket price equals Y outcome. And then I'd probably Google average margin on events, which might be 10 to 20%. And. And just in three steps, I could know how much monies Jesse makes on this event. Now, if I knew that, I might be able to put together a proposal for Jesse that looks something like this. I'm making up numbers here. I think you made a million dollars in revenue off of this activity. The average profit multiple or the average profit or margin at an event is 20%. So I think you took home 200k, the multiple of continuous revenue. So events wouldn't be good for this one. But if he had an event company like he did a million dollars in revenue every year from his event company, then I could say the multiple or what a business sells for in the events industry, because I googled it, is 5x its profit number. So 5 times 200k million bucks. All right, now we know what a business is worth without anybody sharing anything with us. Easier than you thought, right? The second line would be, how can I show, if I drive this revenue, if I drive 300k at 20% margin, how much? I could ask as a percentage of the business. And inside of three minutes, you have figured out how to completely change your offer. How to, if any. Is anybody in here like a freelancer? Does anybody in here do consulting work? So let's call it 30% of the audience. Does anybody in here pay people for consulting work and freelancers? 20% of the audience. So 50% of you today could either own a business that you vend to like this by switching this deal structure around, or you could change how you negotiate cash right now in every single transaction you get with one model. Now, the risky part here is we've got to make sure that we don't piss Jesse off, right? Because then he's going to hire another camera guy. He's going to go this guy's greedy. He's coming, he's asking for all my monies. And we've got to figure out how do we make an offer so good that Jesse likes it that he asks me to do this. And the way to do that is that you ask to drive value for them before a dollar for you, like Dan Sullivan did. And the way that we do this is you say, if I give you X of my business, if you give me X of your business, and I give you X result, are we aligned? And I'm going to give you two things that I want you to snap quickly. Anytime you can steal somebody's script, how much faster can you learn how to close? A lot faster. You're going to steal my script one, you're going to steal my script two on how to get a revenue increase, and you're going to steal my script three, which is my equity equilibrium rule. The more value you give, the more value in equity you get. Now, the interesting part where people most go wrong is he got 3% equity and 3% profit share instead of $400 an hour on a business that netted him $375,000 a year instead of 25k with 3 minutes of work. Now, the last thing I want to cover is you might go, okay, now I get it. I get how to negotiate at a really high level in 10 minutes. But how do I find people who will do this deal for me? And I want you to look for companies that have the exact problems you can solve. And here's how you do this. You go, all right, remember we talked about your experience and your skills? Remember when we talked about your industries that you're in? Then we talk about the pain points in those industries. So where is there somebody who needs your sales, your marketing, because they maybe don't have a big enough budget to pay for an agency and thus you could do an upfront model. Where do we not just go to the surface level problem, AKA what business owner goes, God, I wish I had an upfront marketing model and better function funnels. Nobody, what do they say? They're like, I want more money, faster, less annoying employees and higher profit. And so you want to go to the deeper problem, the deeper pain, not the shallow pain. And then I want you to steal two more scripts, maybe three. I think I'm going to give you right now. Script one, how will you know if you provide value? Script two, this is called the equity leverage teeter totter. The less profitable, stable and slower growth the business, the more you can Ask for more money. The more profitable, stable, faster growth business, the less money you can ask for. And the opposite is for you. The more you are valued, trusted know how to work, the more money you can ask for. And the less you have, the less money you can ask for. So you should make it your singular goal to be on the right side of the teeter totter. The last nerdy part I want to go over with you guys is I want you to copy this and over two slides you're going to see really quickly how to do a deal that will get you a percentage of equity every time you do it and how to value it. You take the current profit, profit added, the profit increased by and then you figure out your valuation multiple and you realize that you're going to drive 100% growth in the company. So maybe you ask for 40% of that, 25% of that. If I came to you right now. Tell me your name. Dan. Danny. Everybody say, hi, Danny. Say, you do great pictures, Danny. I don't actually know that. I'm sure they're wonderful. So if I go, Danny, let's say that your business right now makes $100,000 a year. If I take your business to make this year, $300,000. I charge you nothing for that. Could I own 20% of your business? What would you say? Yeah. Now, he might have questions. He might go, what if you don't do it? He might go, how much work would it take? But it's an offer that would be thoughtful enough that he would have to consider it. And this is the thing that nobody thinks about now. The bigger the business, the harder it is to get the equity. Right? So you've got to know that if you go to our man Jeff Bezos and you go, what if I increase your profits by $300,000? He would probably say, get. Yeah, something along that I don't know. Same thing really. Now, Dan Sullivan got a percentage of equity in a company through this process because he followed how to make offers so good the owner thanks to you for them. And the model is really simple. The more pain and problems times by potential profit solving those pain and problems could get, the more you can ask for. That's it. That is the only math equation you need to have. Now the last part of this is you cannot get what you do not understand. Anybody ever tried to pick up a chick at a bar and you've never picked up at a chick at a bar bar before. How did that go? Not well. You're like, hey, do you like Brazilian Jiu jitsu. They're like, absolutely not. Go talk to your other guys in the corner. Of course not. You have to understand the owner if you're going to do it. And there's only three things you need to know. You need to understand. Do they have an inability to get what you are offering elsewhere for a better price? You need to realize that it's not going to be about you, it's going to be about them. And you're going get to use one model to do it. Likability plus understanding plus belief. I call this the love formula. Likability basically means if I was to come to you. What's your name? Kp. Nice to meet you. If I go like this. If I go, kp, what do you do for a living? Real estate. What particularly? Tell me like one sentence about your company. Okay. You do midterm rentals. Anything special about what you do? Anything special about your business? Property management for mtr. So if I go, hey, that's a terrible business. And then I go, let me tell you how to make your business better because it sucks so bad. Kp Let me tell you, you're gonna go, bye. Like, no. What? So you have to start with compliments or likability. This sounds like a really interesting business. It's incredible how hard you've worked at it. I know that you've had probably many asleep, sleepless night worrying about this business. He goes, yeah, and I think that I see where you might have a problem. Maybe right now you can't get enough cash for your deals, Right? You're like, man, if I had more cash, I'd do way more deals. Maybe you're like, I'd like a few more clients. And then belief, because I understand your pain point. I'm actually really uniquely skilled in this. I've done X and Y and Z. And I'm part of a community that gets more people into mtrs. Would it be interesting for us to do a deal together? That's the love method. Offer so good the owner asks you to do it for them. Understand this and you will never be poor again or ever. And it's as simple as Karun says. It's as simple as Ross Crandall says it is as simple as this truth. If you master negotiation, you will be rich because you can negotiate just about a anything. I want to go past a few of these because I want to get to a very specific example. Pure 5050 split. This is an interesting one. So basically think about it like this. Ross went to his buddy he was sitting at drinks with a pal. You guys ever had this experience? The pal goes, russ goes, how's your business going? The pal goes, man, it's kind of tough. Like I'm starting this new thing. It's not going that well. You guys ever had a conversation like that? Me too. And he goes, interesting. Tell me more about it. I need more sales for online store. I don't really know how to grow an online store. He goes, don't you know a lot about that, Ross? And Ross goes, I do. I help e commerce businesses grow. Cool. Can I hire you? Ross listens to me because he's a part of our community. So what does he say? Actually, I don't take new clients. I mean, he might, but he says, I don't. I don't take new clients except if I partner with them. So Ross ended up owning the entire online store and for $0 until they hit a certain amount, Ross took all the capital and then gave 50% to the owner. Very simplistic deal. Now, everything that we've talked about today, I'm going to give you our term sheet and all of our deals. So, you guys, I shouldn't have told you to take all those pictures. You're just going to get them for free. If you can speak the language, you can manipulate the language. If you can manipulate. Manipulate the language, you can make money off the language. Until you can do that, you'll never be rich. I love it in front. She goes, get out of the way. I'm trying to ski. Can you move it? Everybody gets. You get a term sheet, you get a term worksheet, you get a term worksheet. Nobody wants Oprah. They want deals. We have rapid force fed you something that takes most people years to learn, which is deal structuring with your mind, not money. And there's much more to go there. But I want to leave you with one thing. This is about so much more than money. Do you know the happiest man that I've met recently? He's a garbage man. This is Spencer, happiest dude I've ever met. He's also tall. You're right. I always. I text him and I go, how's five, eight feel? And he gets really upset. Tall people are used to people calling them tall. I go, you're tiny now. Spencer's the happiest man I know, the second happiest group of guy. I know two window washers. And, you know, I was kind of like having a little crisis thinking about this for a second. Why are These people happy? How many. I'm Latino. Are there a bunch of Latinos in the audience? I kind of see you guys. Yeah, yeah, yeah, yeah. How many of you guys had parents that did jobs like mine, did laundry, car washes, you know, cleaning windows? And how many of your parents went, I hope you do the same thing? Any of. Yeah. Silence. All the Latinos are like, be a doctor, go into debt. And I realized that we were told so many lies. Not just Latinos, all of us. We were told that this would make us happy. We were told that shoving our face in front of a screen, working for somebody else in a corporate job, making a lot of money, but on somebody else's document. At the worst tax regime out there was what success looked like. That a credential from a university, that a credential that says Dr. Or Ph.D. meant something. And instead, what have they done? They have enslaved us. When you leave university, $100,000 in debt. When you go and work for a W2, and then at the end of it, they fire you in a series of layoffs like, what's happened the last three years? We work told lies, and we are also very vitamin D deficient. And I think that part of the secret of life, that there is no greater truth and no greater joy than this, than the acute but beautiful pain of ownership. How many of you guys have owned a small business and have sat in your living room, dead in the night, head in your hands, completely lost as to what to do next? Who have felt what it's felt like to maybe not make payroll, to have felt what it's felt like to fail so abysmally when our entire definition of self is one word, and that is founder or owner. How many of us have felt this? And yet there is no more beautiful thing than being the rarest of all, which is an owner. Because let me tell you what is worse than head held in your hands, difficulty owning something, it is asking for permission from somebody else to rent it. And so I have a belief that you in this room, are what's needed to take back this country. That if you do not understand ownership, if you do not get it, if you do not pass it on, we become a nation of serfs when we started off as owners. And so if I teach you nothing else, if you forget every model and spreadsheet that I showed you, I hope you remember this one thing, which is how many people have you ever met who became an owner of a business and then said, now I'm a happy employee. I'm back working at Microsoft. Have you met any of them? Because I sure as fuck haven't. And yet, all over the Internet, people every day will say, it's too hard. You can't. You're not able. You can't buy a business. Those are lies by people who want you to be their employees instead of creating your own opportunity. And so it starts with each of you. I want to thank you so much for having me here today. And I want to tell you, in a world of people who are telling you to shrug, do not shrug. You can hold the world. And in fact, we depend on you doing it. Thank you guys so much.