Building a real business takes years of work on something you love, not quick money schemes. The speaker runs Slam Academy, which generates half a million in revenue, and emphasizes avoiding debt and prioritizing stability over hype.
Okay, here's the main thing that I just want to lay out right at the front of this class. You may have found a lot of classes, a lot of books, a lot of websites and things like that, talking about various techniques of getting rich and entrepreneurship, starting your own business or businesses is one of them, I suppose. But that's not what this class is about. This is not about getting rich quick. I'm not going to talk about unless I'm talking about it in the negative ways of getting a lot of customers with cheap products and cheap services and basically ways you can screw over people to make money. That's not what I do and that's not what you should do. That's not a way to get rich quick. Everyone that's think about it like this. Everyone that's selling you, that kind of a thing is just trying to get rich quick. And you're the sucker in that case. So don't do that. Don't base a business on your customers being suckers. That's a really bad road to go down because number one, you're going to have to sleep at night and you want to sleep at night knowing that you are providing the best stuff that you can. And number two, it's not going to last very long. Anything that is a get rich quick scheme is quick. You might get rich quick on it, but it's not going to last. What I focus on is longer lasting things. I always talk about businesses as my retirement plan, like Slam Academy, for example. We're doing half a million now. That's fine, that's good, that's enough to pay our expenses, keep everybody happy and have a little bit left over to grow. We can continue to push for growth. I'm not going to retire off the small salary I get from Slam Academy today. Right. But if we keep playing our cards right and if I keep doing well with Slam Academy, the customer base will grow, the finances will grow and the revenue will grow. And in 15 or 20 years I will be able to cash out of Slam Academy and have a very comfortable retirement. That's what you should be looking at when you talk about starting a business. Don't start a business because you want to make a million dollars this month. It's not going to happen. And if it does happen, it's probably because you're doing something illegal and you don't want to be doing that. And I'm definitely not going to advise you to do anything like that. What we're talking about here is starting businesses that will have some legs they're going to grow and they're going to become financially stable. And I like to do it in a way that makes them financially stable very quickly. And that doesn't mean that you're going to get rich off them quickly. That just means avoiding debt. So if you are looking for strictly a get rich quick scheme, look elsewhere because that is not what we're going to be focusing on in on this class. And I would suggest to you to rethink that get rich quick scheme. You don't want to do that. You really don't. Because there's no such thing as easy money. Starting businesses and running businesses is hard work. It's not easy. And in fact, the people that I've had to let go from businesses have primarily been people who came into it thinking that it was going to be easy money because they saw everything going well and they said, sweet, this is easy money. It's not. It's not easy money. There's no such thing as easy money. And that's like you win the lotto or something like that. I guess there is such a thing as easy money, but this isn't it. Don't go into this just wanting to get rich. You go into this because you are selling something or a service that you love. You love something and you want to spend all your time doing that thing. So you found a way to make money doing that thing. And then you've got a good company, you're going to be doing that thing 247 for a while. So you've got to love it. You know, that's why all my companies are based on music, more or less. Because if I was out in the world selling picture frames, I would be miserable. I'm not passionate about picture frames, but I am passionate about music. So everything I do is surrounded by music because that's, that's what I know and that's what I do. So I think I've made that clear. Not a get rich quick scheme. You don't want a get rich quick scheme. We're gonna do it the hard way, but it's gonna pay off in the long run. Okay, I think I said everything I need to say about that. Hopefully I didn't, like, just have viewership drop down to zero, but if I did, so be it. Because I want to be honest about what this class is and what we're going to be doing. Okay, that being said, let's dive in to the nitty gritty and let's start talking about why we start businesses in the first place.
