Biggest Money Mistakes People Make

This recent budget should warn you that your pension is not safe and secure and they're coming for your inheritance. Do you even know how much is in your pension or where your pension is invested? Add to this the recent inheritance tax grab on your pensions and the risk of a market crash. You probably didn't know this and I didn't until recently, but physical gold can be added to your pension pot. Gold is inheritance tax free and has grown 700% in the last 20 years. You probably know from my content I'm investing heavily in silver and gold and that's why I've partnered with direct bullion. Myself and Nigel Farage are brand ambassadors and direct bullion can help you with gold to protect and grow your pension. I buy my gold and silver from direct bullion and I don't earn any money on any purchases of gold or silver if you buy direct from direct bullion. So if you go to robmore.directbullion.com you can get a great price on your silver and gold and you can get the pension Gold Investing guide completely for free. As you know, I don't do many strategic partnerships and when I do I do them with people who are credible, who've been doing it a long time, who invest in things that I invest in too. And gold and silver's going wild. I'm investing heavily in gold and silver and I recommend you check out robmore.directbullion.com.

Let's talk the biggest money mistakes people people make.

Not buying silver, that's a big money mistake. Having money in fiat currency going down in value over time and not having your value stored in real money. Some people call gold and silver God's money.

Do you agree?

Well, I'm not particularly religious, but this is real. This is real and actually it's really underpriced compared to gold. If you track gold and silver price up until 2005, they went like that, silver here, gold here, and then from 2005 gold went like that and silver has not tracked up relative to it. So whilst I'm not giving financial advice, this is probably really undervalued. I've got an expert who guides me on my buying of precious metals and he thinks this is really undervalued. The silver coins are surprising. The these silver coins are surprisingly accessible in terms of anyone can kind of really get into them as an investment. It's not as expensive as gold actually. For a bit of fun in the comments, if you're watching on video, of course, if you can guess exactly, I'LL tell you what, I'll do the closest because that feels more fair. Exactly how much silver is here at the time that I bought it? And there's, I won't tell you how much, but there's bars, kilo bars and 2 ounce Queens Bees coins. Five of you get it the closest. I'll give some of these silver coins away.

It's a pretty good deal.

Why not?

So tactically then how do you get into silver? Do you have to go to a dealer? Can you buy it online?

You can buy it on the Royal Mint. You can go to the Royal Mint website which is backed by the government and you can buy silver bars and silver coins. You can buy gold bars and gold coins. There are other places and other ways to buy it. If you buy it in a company you can claim the VAT back. But yeah, it's really easy to buy. This is legal tender. I mean you're not going to go to Starbucks.

I'll have all your coffee but one Stanley Cup.

Yeah, one Stanley Cup. Don't, don't get me started on Stanley Cups.

Go on. Biggest financial mistakes?

Well, yeah. Kids spending 55 quid of their hard earned saved money or getting their parents to pay 55 quid for Stanley Cups. I don't know if you saw my LinkedIn post, it got a million views plus ranting about 55 quid for a Stanley Cup. Here's the thing, you could get one of these investments for nearly the same as a beaker that holds water. You could buy a beaker that holds water for, for £1 or dollar. Why do you need to spend £55 on a Stanley Cup?

What is it about Stanley? What have they done right that they're able to charge?

Well, it's obvious they've infiltrated into the TikTok and YouTube youth culture and clearly got the young kids going mad about these Stanley Cups. Doing them in kids colors and things like that. I mean from a marketing standpoint it's genius. It's just such a shame that we aren't teaching our kids to invest £55. Instead they're buying 55 pound water bottles. Like there's a part of that that really saddens me. There you go. I mean kids spending 50 quid on a cup that probably don't have 50 quid to their name in savings. Although savings is another thing that's a big myth.

What? Well, there's a loop you've opened up there. What, what's the myth around savings?

The leaving your money in the bank is not Saving it, it's degrading it.

Burning each year because of inflation.

Yeah, yeah. And the risk attached to will you get it back when you want it? I mean there's riots going on in the world. If 11% of the population want their money back at the same time, that is an insolvency event whereby the banks don't have it in deposit, they wouldn't be able to give it back just 11% because they can lend, invest $9 for every 10, $9 out of 10, £9 for every 10. Fractional Reserve Banking it's called, and they can just lend it out. So you could give me $10 and I can take nine and go and lend and invest it. And you're led to believe that your money is safe and you know the money is insured. But how do you know? How do you know? So in some ways it's a great scam that your hundred pounds or dollars today, if you save it for long enough, is relatively worth 50 and then 30 and then 20. It's called savings to save something. Like if you save a child, you save its life. Saving is supposed to be virtuous. It's assumed that when you save something you retain its value. No, if you leave money in cash or you leave in the bank, that is not saving it, that is eroding it. So I don't use the word savings, I use the word storing. This is a better savings account than the banks because it beats inflation and this is a better store of money value. Now it's not quite as liquid as going to the bank and getting your money, but here's the thing, I went to put some money in bitcoin because bitcoin tanked recently and I'm buying the dips. And bearing in mind, say this with humility, but it's a fact. I'm a multimillionaire and the banks would not let me put more than a thousand pounds a day of my money into bitcoin and a max of £5,000 over a 30 day period. My money in the bank, they're supposed to be saving it, looking after it, looking after my pension, looking after my future, you know, the great public service of the banks. Oh, but wait a minute, no, you can't have more than a thousand of your own money a day to put into bitcoin and max five grand over 30 days, go into the bank and ask for 30 grand in cash if you've got it in your bank. I mean you'd have to jump through all sorts of hoops and you'd probably get, I don't know, you might, you might be lucky to get 10, I don't know. Go and try and put cash in the bank. They won't let you put cash in, they won't let you take cash out. But they're supposed to be a public service.

So going back to silver, how is somebody then selling it if they need to? EBay?

EBay? Well, I don't sell it, I just hold it forever.

What if you have an accident?

What if I have an accident?

Yeah.

What, let's say, what, like I wet myself? Yeah, you know, Rob had a little accident.

That's it. You need to buy some new boxes. Go to next, then taking a silver bar.

What if I want to liquidate it? Yeah, I mean, you can go to gold and silver dealers or brokers. I use the Pure Gold Company and I buy and sell gold through them to them. They're not the only one. And they're not paying me to say this, I've just used them and they're really good. The thing with silver and gold is it has a very stable market value, like whatever this is worth today, you'll get. And it'll be pretty much a set amount. And you'll get, given that if you try and sell real estate, there is no set value and if you try and sell it, you might have to sell it 10 or 20% less. So it's very stable market, very liquid. Yeah.

So when you talk about buying the dip, do you recommend everybody does that? Just keeping an eye on, sort of when things go to shit and buy.

I don't recommend anyone does anything. I share my experience and a few things that I think in the long term have been proven to make people wealthy. Number one is by proven asset classes, like hundreds of years. Ideally, this is thousands of years proven real estate you can track back to 1088. Do you know, actually, let's have a bit of fun and guess this in the comments. Do you know the total value of all land and Property in the UK in 1088? Have a guess in the comments, Remind me, I'll answer at the end and if anyone gets it. But total value of all land and Property in the UK in 1088? I'll give you a sort of. It's not really a clue, but in 1952, even some of the bigger, nicer, more luxury houses were under three grand. And now you can't get much for under a quarter of a million. So real estate's proven. Gold and silver are proven. So number One, if you want long term, proven, sustainable, scalable wealth, then you go into proven classes. I mean, look, you can start a business in AI and you could a thousand times beat the return on your 5 to 8% in these kind of classes, but there's really, really high risk attached to it. That's the first thing. The next thing is I, I call it buying in the dips. It's quite a commonly known strategy whereby when markets have dropped, you buy at the lowest point in that moment. The problem with that is you don't know if it's going to go down further. So you don't know if you've bought at the bottom. So then the third strategy is called pound cost averaging or dollar cost averaging. Buy a proven class, buy in the dips, but don't put all of your money in, in that one dip because what if it goes down again and again and again? So let's say I'm going to invest all of this and there's some, there's a dip in the market, I put that much in, I wait a month, there's another dip in the market, I put that much in, I wait, there's another dip in the market, I put that much in. Now don't get me wrong, this, that's not necessarily going to make me the highest return. If this was the lowest point and I'd put them all in. But what if I'd put it all in and then it tanked further and further and further. So it's called pound or dollar cost averaging. And then the final thing is buy, hold, die. Because if I buy in the dip and I bought a bit high, does it matter if I never sell? No, because Father Time always corrects bad investment mistakes. As long as you don't have to sell. So, so if you think about it, the most obvious thing in the world in investing is buy low, sell high. But what do most people do? Buy high, sell low.

Why?

Why do you think? Why do they buy high and sell low? When logic tells you the smart thing to do and the obvious thing to do, common sense thing to do, is to buy low, sell high.

Well, it's emotional, isn't it?

It's emotion. They buy high because everyone's excited and you get the fear of missing out and then why do they sell low? What emotion is?

They're trying to cut their losses.

Yeah. Or they're scared of it going down further. Or they're worried about everyone else's fear. So Warren Buffett said, be greedy when others are fearful and fearful when Others are greedy. Walt Disney said, observe the masses, do the opposite. So if you're going to buy and sell, you buy low, which is the opposite emotion to the masses. And you sell high, which is the opposite emotion to the masses. But if you buy, hold, die in time, any investment mistakes are corrected because it just goes up and up and up over time. And you can track back gold and silver prices hundreds of years ago. You can track real estate back hundreds of years ago. You can track the stock market back hundred years. So there's four or five simple tips. Anyone, anyone, even a 12 year old could implement what I've said. Anyone can do this. And you can just start with buying little silver coins. If you're like, well, I don't have much money now, here's another quick tip. Go and set yourself up a self investing account on something like Vanguard, Charles Stanley or Hargreaves lansdowne in the UK. You set up an ISA 401k in America. But look into the tax wrapper vehicle for investing in the stock market. Don't do the cash one, do the stock market one and just have a direct debit every month coming out of your bank. Whether it's let people say I can't afford to invest, just start a direct debit at 50 pounds a month or dollars and then as you start to earn more money, invest the difference. What a lot of people do is they earn more money and then the expenses go up in line. It's called lifestyle creep. But if you get a commission check, instead of putting your expenses up, why don't you invest that whole commission check into S&P 500 FTSE 100 gold and silver. Gold is predicted to go up to $3,000 an ounce by bank of America. That's a 50% increase in a very short time. Gold and silver have gone through the roof recently with all this news of an impending recession, depression or crash. I'm also very excited to announce a brand new and long term partnership with Direct Bullion. This is not an ad or an affiliate link, this is a long term partnership. The owner of Direct Bullion has actually been a fan of my show from for many years and myself and Nigel Farage have become the ambassadors for Direct Bullion. If you go to robmore.directbullion.com you can get the very best spot or under prices on silver and gold. You can learn about how to invest in silver and gold from the people who I buy gold from and who mentor me on my silver and gold investing. You can also buy gold and silver in your pension, which is something that a lot of people don't know about. So to save me answering the thousands of questions I get about investing in silver and gold, Simply go to robmore.directbullion.com Right now we have a banking crisis, a potential global recession, billionaires selling all of their assets to be liquid to cash in on the crash, banks going bust and taxes going up. If you'd like to learn how to cash in on the crash and not just survive, but thrive in in challenging times, I invite you to join us at the Money Maker Summit Live. The link is robmore Live Money. I'm subsidizing a small number of tickets from my Rob Moore foundation or for a very small upgrade fee, you can get special VIP tickets where you meet me personally. You'll get your book signed, there's VIP dinner with six multimillionaires, there's champagne reception Q&As with three or four panel millionaires and bonus money mindset sessions as well as the special three days on getting your tax bill down, your income streams up, my eight stages of building wealth, my formula for riches, and much more content at robmore Live Money. The agenda, the details, the dates and the speakers are all at the link. Robmore Life Money.

I suppose that was always my rule when I was like an employed salesperson was my expenses must be less than my base salary. Always.

Yeah, because then your commission is basically this recent budget should warn you that your pension is not safe and secure and they're coming for your inheritance. Do you even know how much is in your pension or where your pension is invested? Add to this the recent inheritance tax grab on your pensions and the risk of a market crash. You probably didn't know this and I didn't until recently, but physical gold can be added to your pension pot. Gold is inheritance tax free and has grown 700% in the last 20 years. You probably know from my content I'm investing heavily in silver and gold and that's why I've partnered with Direct Bullion. Myself and Nigel Farage are brand ambassadors and Direct Bullion can help you with gold to protect and grow your pension. I buy my gold and silver from Direct bullion and I don't earn any money on any purchases of gold or silver if you buy direct from Direct Bullion. So if you go to robmore.directbullion.com you can get a great price on your silver and gold and you can get the Pension Gold Investing Guide completely for free. As you know, I Don't do many strategic partnerships and when I do, I do them with people who are credible, who've been doing it a long time, who invest in things that I invest into. And gold and silver's going wild. I'm investing heavily in gold and silver. I and I recommend you check out robmore.directbullion.com yeah, it's free money that I'm.

Not going to miss as such. Oh, I'm not going to need.

Yeah.

And with Vanguard, so I opened one when I think I was 18 and I remember when I was 21, third year at university, my, I was sat in my dorm seeing the COVID announcement and the pictures of people, I can't say that word, but I have to blank that out of YouTube.

Right.

But you know when they're spraying this, the streets in China and things like that immediately logged into Vanguard. Buy, buy, buy, buy, buy. Because it tanked. That worked out very well for me that year.

Great.

Well, a couple of years now.

As long as when those dips happen, you're investing in an otherwise proven asset class. Here's the, the important distinction. I'm talking about long term investing, not short term trading. So what some people do, they see some individual stock or company tank, they're like, oh, massive opportunity. They go in but then that individual company goes bust and then they've lost all their money. You're never going to see. I can't imagine. I mean you should never say never. But as much as you can never say never, the, the entire S&P 500 is not going to go bust. All 500 of the biggest companies in America, the entire FTSE 100 is never going to go bust. So this, there's a massive difference between trading and investing.

Those are the only two things I hold. What, the FTSE 100 and the S&P 500.

Yeah.

And I remember actually because at the same time I had a friend and he put a load of money into airlines because he was like, well, they're cheap.

Yeah, but sometimes they went bust. Sometimes things are cheap because they're shit. Yeah, yeah.

It's like, oh well, you know, it's going to go up eventually. It's like, well, if they stop trading for two years, they're going to run out of money eventually and half of them went bust.

Yeah. When it comes to the more singular and individual the investment is, you need to have way more knowledge. Way like I would invest into my own business because I can control the outcome. I can do the 16 hours a day if required. When Lockdown happens, I can maneuver the business and recover it. But if I invest into an individual company or asset class, I don't control the outcome.

What's your thoughts of people? Have you seen copying the Nancy Pelosi trades? Have you seen this on Twitter?

Well, I can see the logic. The logic is copy someone who's got insider information. Yeah. So probably better than copying some 17 year old TikToker who's selling a forex trading course and hasn't even got pubes yet and is trying to teach you how to be rich. Probably better than that. I mean, look, I don't know Nancy Pelosi, I don't really know what's going on. But if you look at her net worth since she was in her office position, it's gone.

Wow.

And, and that's not from her salary. And it makes you wonder what they know and it's probably actually not criminal. Here's why. Because they have one rule for them and one rule for you. So for everyone else it might be insider trading, but they'll have some legal loophole which protects themselves. It's one rule for them, one rule for you. I don't like copying anyone unless it's Warren Buffett or Ray Dalio or basically very old, experienced, balanced level professional investors. Like even people like Elon Musk. You know, you see him, I wouldn't say pump things, but you kind of, I mean he's quite bullish. He's quite bullish on what he pushes, but he's an entrepreneur, he's a tech guy. So I would look at Ray Dalio proven over what, 50 years, Warren Buffett proven over 75 years. I would copy people like that. I probably wouldn't copy anyone else.

Is there anyone in the UK that's similar to them?

Yeah, there is Mark Homer, my business partner. He is very private. Most people don't know who he is. Who knows me. And he is a very smart, savvy, long term progressive investor. But he doesn't ever make recommendations, he doesn't ever tell people what trades to do because he's just too busy doing it himself. So I take most of my guidance from him.

What's the biggest loss you've personally suffered financially? Was there one big investment mistake that went wrong?

This is probably going to sound a bit anti American, but I haven't failed 932 times, I haven't gotten bust 58 times because I saw this post by Alex Hormozy on LinkedIn. It's like failed my first business, failed my second business failed my third business, failed my ninth business and now I'm a legend winner. And I kind of thought, well actually I probably wouldn't invest in you mate, because you failed nine businesses. So maybe you just got lucky. And what about all the creditors and the companies that got liquidated and all those failures? I think it's really glorified in America, especially about failing on going bust. I think everyone should have a second chance as long as they haven't done anything legal. I think everyone should have a third chance. I think the limited company wrapper where you protect the individual's assets via a company structure so that they can take a risk and set up a business and employ people and not lose their home, I think that's a great structure. But I haven't really lost much money. I mean I've bought an asset and sold it 10, 15% below it. I bought a police station and converted it into 23 flats. I sold the 23 flats. We made gross seven figures in the early millions. Then I had to take the taxes off, split it with my business partner, then split it again with my wife and you know, I was left with, you know, for many a life changing amount of money. But this was 10 years ago that, that money's well and truly gone now and those 23 flats have doubled in value since. I really regret selling those. So most of my financial mistakes are selling assets too early. I sold a Richard Mille RM11 for, I think I bought it for 75 ish. I think I sold it for 85 ish. Making 10 grand on a Richard meal six years ago was unheard of and then it peaked at 250 grand. I bought a Patek Philippe Nautilus steel chronograph watch. It was 35 grand new seven or eight years ago. I paid 25 for it. So I got it a third off Patek Philippe Nautilus. I sold it for 36, so I made a grand over the new price. You know, like that's unheard of. And then they peaked at what, 150, 160. So I've never gone bust. I've never had to, you know, have a load of shareholders and creditors lose a load of money. So therefore my bigger or biggest financial mistakes are on assets I sold too early. So that's why now my strategy for all investing, watches, cars, although I did sell that 1989 Porsche 911 Turbo. But there's a reason for that if you want to know. But cars, watches, real estate, businesses, maybe precious metals, anything I own, buy, hold, die.

Do you think Americans, because you mentioned the Alex Hormoses and whatever. Do you think America's or Americans, you mentioned people like Alex Hormozy and other entrepreneurs. Do you think America looks after their entrepreneurs better and that's why it's glorified?

I think it depends actually, because it doesn't look like California's looking after its entrepreneurs right now. It looks like it's taxing like the ass off them and people are leaving in droves. And you know, if you think about the west coast of America always used to be the real land of opportunity and now they're moving to Texas and Dubai and I knew people who went to Puerto Rico and places like that. So in America I think it's really state dependent on the, you know, you've got the federal taxes and the state taxes. It certainly looks like places like Texas are inviting in the entrepreneurs. I don't know the details of the tax system well enough. I think America's always been the land of opportunity, where it's a place you can go whether you're an immigrant or whether you're broke. And the American dream is you can create something for your life. And to be honest, that feels much more real even today in America than it does in the uk. In the UK we have the tall poppy syndrome, which I think originated over from Holland, you know, where if you get too successful, that is, you're a tall poppy, they slash you down. I don't know if you know the analogy of the crabs in a bucket, but this is a phenomenon of crabs. But if you go crab fishing and put crabs into a bucket, and anytime a crab tries to get out of the bucket, all the other crabs pull the crab back into the bucket, every single one of the crabs could reach freedom. The fishermen don't have to put lids on crab buckets. All the crabs are in there, they could all get to freedom. And when one tries to get out, all the other crabs pull them back in. The UK's like that. It's a bunch of fucking crabs. And most of the open minded, you know, being an entrepreneur is something of value and you can be successful and we champion and support success. Most of that has come from America. However, I think at times they push it too much. Whereas it doesn't matter, if you fail, you're a winner. If you fail, you have to fail 10 times. And I think they glorify failure a bit too much.

But a large percentage of people fail their first business anyway, right? So isn't that a Good thing that there's, like, an encouragement to go again. It's like, you don't fail unless you stop.

Yeah. There's an argument that you should never give up and never quit. There's also an argument if you failed nine businesses, maybe you should be employed. You know, like, if you were a boxer and you had 50 fights and 50 losses, you know, you're not a hustler for having your 51st fight. You're an idiot. And so the failure rate in businesses is really high. So it is a paradox. I will accept that. Because if you just keep going, in the end, you would say one of your businesses will be successful. But are you really made to be an entrepreneur? Can you even be an entrepreneur? You know, my friend Simon Squibb says anyone could be an entrepreneur. Completely wrong. He's completely wrong. Not everyone can be an entrepreneur. Not everyone has the risk profile. Not everyone is made of, you know, the vision. And some people don't want the responsibility of staff. Some people don't want the responsibility of all of the overheads. Just like not everyone is meant to be an Olympic gymnast. Just like not everyone is meant to be a black belt of martial arts.

Not.

Not everyone is meant to be an entrepreneur. And so all of this, fail, fail, fail, fail. Never quit until you succeed. Well, what about first asking yourself, should I be an entrepreneur in the first place? Because then you're destined for failure. And all these American LinkedIn TikTok gurus are telling you to keep failing your way to success, but you'll just keep failing your way to failure because you're a square peg in a round hole. I'll give you an example of this. There are many CEOs who are millionaires. In fact, Tim Cook, I reckon, is a billionaire. And he's not an entrepreneur. He didn't start Apple. So some people watching and listening. You are best off finding a company that you think has got potential and starting at the bottom and moving up to be the number two. Like, there's an argument that being number two to Steve Jobs might be better than being number one in any other business in the world, bar maybe five. And, you know, I'm pretty sure Tim Cook isn't an entrepreneur, but. But he's a billionaire. Tesco. Terry Leahy, who, you know, became the basically number one guy in Tesco, probably became a billionaire, started stacking the shelves, and he worked his way up. Now I'm an entrepreneur. I love entrepreneurship. You're an entrepreneur, but you did it right. I believe you started working for me as an employee. You nicked all my knowledge. You allowed me to pay you. You let me take the risk. Everything you learned was free. I was looking after your overhead costs. And then as soon as you were de risked enough, then you're like, rob, I just want to change the agreement on how we work. And then you formed your company and then you became an entrepreneur. So you used me as a stepping stone and you and leapfrogged me to becoming an entrepreneur. That's actually really fucking smart. And a lot of these big gurus and influencers don't tell you about that. If you want a lower risk and probably higher chance of success, here's what you should do. Find an entrepreneur who's got a company, maybe they're 20 million a year. If you find a billion dollar company, you're not going to get anywhere near the CEO. You know, we're at 20 odd million a year in sales so you could get lunch with me. In fact, didn't we meet because you served me coffee at Costa. So you were working at Costa, you served me coffee, you saw me coming up in some new supercar every day and you're like, who is this dude? Pretty much, yeah. And then you didn't realize we had an office down the road. So go and work for an entrepreneur for one to five years, learn everything they know, have them take all the risk and then go and pitch them a new business and have them as a partner. That is way less risk. And it's the same journey, but because they don't tell you this stuff.

So quicker journey as well.

It's a much quicker journey.

Open all the doors.

A, they open all the doors, baby. B, you're getting paid. You know, when you start your own business, you're not getting paid. And you might not get paid for two or three or five years. And there's a lot of people who glorify. Oh, I haven't paid myself in 72 years. Well, that's actually not good. So why not get paid from day one? TikTokers, 17 year old, no pubes. What do you fucking know? I've been doing this 18 years. I have. What? I think we picked 120 staff plus all the outsourcers. I always say to my staff, before you quit, pitch me with your business idea. If I like it, I'll go into business with you.

There's a website or a blog called Sarah's List and it's American, but it's all of the companies it recommends. You go become an employee that they think are going to go up. And I think in 2023 they got about 85% of them, right. And it all come from. There was a lady called Sarah, but she'd worked at Facebook really early, she worked at Uber really early. And she got all of this stock and she'd become a multi millionaire and she wasn't even ground zero. She was employee, you know, 500, 600. But they, you know, in America they give a lot of stock options to as part of the compensation. And it's like, yeah, if you want to be, if you want to be rich, you don't always need to be an entrepreneur. And I think you can also learn from these people and then start your own thing in that industry.

Well, people don't really know this, but that's what I did. People think I started on my own, from scratch. I didn't, I had a, an ebay business before ebay was a known business for everyone. Like 25 years ago I sold some art, but this was evenings and weekends and my first job in real estate. I worked for a property sourcer and I worked for him for a year and I learned how to source property and I paid off all my debt with the commissions I earned and I lived on the salary like you said. And so the end of the first year my debt was paid off, had a bit of, earned pretty good money, bit of savings. And then I was in a foundation where I had some knowledge and a good solid financial foundation. Foundation. Then I set up progressive property.

I didn't know that.

No, most people don't because it's like, yeah, sack your boss, sack your boss now. Just over broke loser off. Like, look, I'm an entrepreneur, I teach millions of entrepreneurs. But it pisses me off when people like misquote Kiyosaki, just over broke loser. Oh, you got a job. What a loser. No, chef's not a loser. Someone who cleans your toilets is not a loser. As far as I'm concerned, whatever job you do, if you do it well, you're a winner. And there's a lot of people doing jobs badly. I'll look at people who are doing jobs with well, because I'm like, if you're doing a job well, you're going to do a good job well. There's a lot of people doing quite a good job badly. There is nothing wrong with being employed. Tim Cook, right, he must sit there, you know, on his beach in his hundred million pound villa, sipping his, you know, gold plated espresso, pissing himself, laughing at all these People who say that employees are losers as he is their billionaire employed. So that me off. And also I love my dear friend Simon Squibb, but he's going into and look, I love my dear friend Simon Squibb, but he's going into businesses and telling people who are 17 and 19 year old baristas sat your boss and follow your dream. What if your dream's backgammon? Like you might have just fucking ruined that kid's life. Oh, and wait a minute. Apparently property is terrible, but failure rate in business and entrepreneurship is fucking 90% year one, another 90% of those year three. What about saying do that job really fucking well? So you get pay rise and a pay rise and set a one to three year plan of your own business and do your own business evenings and weekends. Then match up your salary and then you can either quit and follow your dream or you can pitch to your boss to partner with you and they can part fund it. Way better advice.

Do you think it's a good idea? So let's say you're an employee, you're not ready to start a business. You don't even know where to get started. Find a job where you can get commissions or bonuses and then just start investing that.

I think if there's something you want to do and you don't know how to do it, go and work for a company that does it. Because you can earn and learn at the same time.

So.

So let's say you wanted to be in real estate, go and work in an estate agents. You learn real estate and you earn while you learn. When you start a business you've got to learn and you're not earning. Whereas when you go and work for someone else, first you learn and earn. Then if you can get uncapped commissions, then obviously you can take all those commissions and stash them and have a fighting fund launch your business. You don't need money to start a business. That is a myth. But if you have money, you can speed up.

I saw you speaking on stage recently and you was explaining or you had an analogy of snakes and ladders. You explain it.

Yeah. Do you mean in business?

Yeah.

So in business there are snakes and ladders. On the journey of square one to square 100, you don't get your snakes and ladders bored out and go the snakes today I want to play ladders and ladders. And I want to play snakes and ladders. I want to play ladders and ladders. Actually think about it. Snakes and ladders would be fucking boring if it was just ladders, ladder, ladder, square 100, I win. Be boring as shit. It's fun because you might fall down a snake and there are snakes on the way to the journey and, and the ladders are made better by the snakes. Oh, and by the way, another reason why business is snakes and ladders is because you can be at square 97 or whatever it is and go down a big fuck off snake. You could also be at square 20 and get into AI and go on a big fuck off ladder. The only difference. I think we'll edit that bit out. Something flew into my mouth. The only main difference between snakes and ladders and business is snakes and ladders stops at square 100. In business it's square infinity. You never get to the end of the game. You get to square 100, then you've got square 200 to chase. With more snakes and more ladders, maybe you get to square 200 and the next goal is 500 and there are even bigger fucking snake and even bigger ladders. So that's how business is. Snakes and ladders would be shit without snakes.

I think the first example that comes to my head from that square 96 back to the start is your friend Gerald Ratner.

Yeah, yeah. So did a speech at the Institute of Directors at the height of his career. Half a billion in jewellery business. The biggest jeweler in Europe made a joke about one of his pieces of jewellery essentially being the same value as a prawn sandwich. It was a joke. The media castrated him, misquoted him, targeted him and he lost everything. He even got fired from his own companies. And that was before social media, that was just tabloid newspapers that wiped him. So yeah, he was on square 999 and there was a 998 length snake. However, here's the beautiful irony of the story of Gerald Ratner, who is a dear friend of mine. He went down the 998 snake. He licked his wounds for a year or two. He launched a gym without ever owning the gym because he sold the members memberships in a newspaper ad to a gym he didn't yet own. He took all the contracts of the gym memberships for the gym that he didn't yet own and he used that as collateral to get a loan to build a gym. He built the gym. He sold the gym for millions. Gerald Ratner's back in the game. And ever since then, Gerald Ratner has made millions. Speaking. He has one speech which tells his story of, of going from zero to 500 billion back to zero. The irony is he lost 500 million. I think I said billion. 500 million in one ill fated speech. And now he makes millions telling that same story thousands of times in his speech.

What's the biggest money scam that's completely legal?

Inflation. The biggest money scam that's completely legal is that the government can print money on demand with no value backed or value created. And the reason it's a scam is not because they can just make money out of thin air. Because if they could make money out of thin air and it had value and it strengthened the value of your money, that would be a public service. But every time they print money for wars, because if they came to you and said, hey, just we want to put our taxes up 10% Kane because we'd like to go to war with America. Yeah, you're going to opt out of that.

Yep.

You're going to riot over that. So they don't ask you, they just print money. Let's say they came to you and said, we want to lock you down for three months, it's going to cost us a trillion. Can we just up your taxes 10%? You're going to say fuck off. So they print a trillion. But the big scam is when they print the money for themselves to fund wars and lockdowns, your money goes down in value and it becomes a theft of your money. And that is the biggest legalized money scam. And the reason it's such a huge money scam is because no one fucking knows it's going on. And people say, oh, inflation is just the natural. Like they, they talk about inflation as a natural occurrence. No, it's not. It's a government and central bank created occurrence. It doesn't have to happen. Like if they don't print money and they find another way to exchange value. Because if you go back, sardines and cigarettes and stones and salt and silver and gold were all forms of money. So you can't tell me that there's no other better invention of money than paper. I mean it's really fucking clever invention. But it's not a public service, it's a government and central bank service. The biggest scams are hidden in plain sight. They're the biggest scams.

The first one that comes to my mind after you saying that is university. Right, so you teach entrepreneurs how to start scale a business, make more money and people will pay you for the privilege, as they should. Not me. I thought you would pay me for a few years first. But with university it's like, oh, get A high interest loan. I looked at mine, I've been out of uni four or five years, it's higher than when I left. And you learn something you're probably never going to use, taught by somebody who's never done it themselves. And not only is it in plain sight, it's encouraged from early on in school.

Well, most working or middle class families are indoctrinated with the desire that success for their children is sending them to college. So you are being programmed from age 3 by your parents who were programmed that for you to be a successful man when you grow up, you need to go to college, you need to go to university, you need to get a good job and not shame the family. But like you said, you are propaganda into going to college and university for three to seven years. Do you know the record? The highest fees that an individual student has paid is a quarter of a million dollars. There is a student who has paid a quarter of a million dollars in school fees, which obviously he's not paid cash, has had to get debt on that. Like you said, the student loans, the fees, probably getting into debt in the living expenses and the accommodation. So you're in college three to seven years, you're in six figures of debt, which is thousands of pounds of interest. And now you might be able to get a job starting at the bottom of the ladder for maybe 30 grand. And if you want to have to eat and to heat and to live, you're probably 500 to a grand or more down. So you've already got all the debt that you're paying thousands on, then you've got to get credit cards to live, then you've got to get a mortgage to live and all of a sudden you've got student debt, credit card mortgage, and then they're like, oh, you want a car, get a loan or you want a conservatory, get a loan. All of a sudden you've got five loans, you're 25, you're earning 30, 35 grand a year. There are people now in the UK who are only 50 grand a year, who can't afford a house. That's mad. And then now they're giving 30 year mortgages, which means, oh, you're 25, 30, you're in masses of debt, you've got five different loans. To us, you're paying thousands of pounds and now we're going to keep you in debt until beyond retirement age and then statistically you die a few years after retirement. I mean, one of the best tips to extend your life is to never Retire as long as you're doing something that you love. And then when you die, they take 40% off you in inheritance tax. And that's the system. And people call courses and self education a scam. I mean, and that's. I shouldn't be pissed off because my mission is to help as many people on this planet get better financial knowledge. And if the system wasn't the system, I wouldn't have a job. But people can join Rob team for what, two cups of coffee a month, less than 20 pence a day. And they can learn how to beat the system at its own game. Because one thing I want to say about that system is actually objectively very clever. It's subjectively and ethically and morally reprehensible to me, but it's objectively very clever. This thing called a human which replicates itself. And I can make a product. So the banks have 4,5 billion customers. I don't know how many people don't have a bank account. Let's call it 2 million billion trillion. What's the population? 7 billion, between 7 and 8. Okay, so let's say 3 billion don't have a bank account, 5 billion do. Well, the banks have got 5 billion products that they can sell to, that is you. Because if you're not making money from the banks, you are the product of the banks. I make money from the banks. Here's something fun. If you borrow a million pounds from the bank, you have the problem. If you borrow £100 million from the bank, they have the problem. Oh, Kane. Sir, yes, sir? What do you want? Sir? Because they don't want to lose the fucking hundred million that you've borrowed off them. So when you play the banks at their own game, which is a really clever business model, you get rich because they got rich. It works. So I've transcended the moral and ethical judgment of it because I just see it as a business model. What pisses me off though is the lack of transparency of it. So I'm telling people how the financial system works in layman's terms that anyone can understand. And then people are like, fuck, that's a scam. No, it's a clever business model. And you can learn it and put good ethics and morals on it. That is have a good product and service that's valuable and you know, don't have misguiding propaganda and make out that you're doing something that you're not. But I figured this out 17, 18 years ago. So inflation makes me rich. Inflation makes most people poor. Inflation makes the bank rich. Whatever makes the bank rich. I want to figure out one, I want to do the same because the banks have been doing it for thousands of years and they're good at it. Inflation makes the bank rich. All right, how? I've got to work out how inflation can make me me rich. So I just do what the banks do.

How does inflation make you rich?

Because anytime the banks print money and create inflation, asset prices go up and debt values go down. And I have assets and debt. So anytime they print money, what happened? Let me try and explain this in layman's terms. When money is printed, there is more money in the economy. So relatively what was already in the economy goes down in value because there is more supply. Supply and demand is more demand, higher price, more supply, lower price. So more money in the system, lower price of money. But because there's more money in the system, there's more money fighting for the same amount of assets. So relatively there's less assets compared to money. So assets go up because of higher demand. This is what happened in lockdown. A trillion got dumped into the system, nearly a trillion. And it really shocked a lot of people, including me. At first, real estate went like that, watches went like that, the stock, everything went up. Like they went. How the fuck could this happen with the like lockdown and the economy like it is? It was simple because they pumped so much more money in and less was being made and created. There were less property transactions. Their watches and cars weren't being built. So you had major oversupply of money, major under supply of assets. So assets go hard up, money goes hard down. So I own assets and I own debt. Because when money goes hard down, so does the value of the debt linked to money. So the government know that if they print a lot of money, they eradicate relatively their own debt because the value of the debt goes down. So I have mortgages against assets. So anytime inflation kicks in, my assets are pushed up, but the mortgage against them is pushed down.

So does that mean it's a bad idea to pay off all of your quote, good debts, like mortgages on your properties?

Well, we've got to differentiate between good debt and bad. Well, we've got to differentiate between good debt and bad debt. That's really important. If you're getting loans for depreciating cars and because you're spending 500 pound more than you're earning and you're going out and you're buying iPhones and hardware and clothing and depreciating liabilities, that is just dumb. The only reason you should ever get debt is if the return on the debt is higher than the cost of the debt. So often you want to get rid of your debt bad debt to zero before you invest. However, for many years debt was very low. So when interest rates are low, you can beat the interest rate with the earning from the asset. So you use the debt to leverage an asset. Now I know how to beat inflation, leveraging debt against assets. I'll usually do it in real estate, sometimes in companies. So if I pay off my debt, I'm using fiat currency which is going down in value, which I've paid tax on to pay down debt. But if I just leave the debt the same 100 grand in 25 years, 100 grand might have halved and halved again. Like think about what you could buy with 100 grand. 25 years ago you could buy a big house. Now you can buy a studio in a shit area. So fast forward 25 years that 100 grand is going to go down. Similarly and relatively so I want to maximize my good debt as long as I'm not exposed to fluctuations in markets and as long as there's good income to cover the the payment of the debt and then I want to let inflation and the government pay that debt down for me. So inflation was Double digit in 2020, 2021. And by the way, if they say to you it's seven, it's probably 12 or 14. They don't put everything into the basket of goods. They probably don't include your mortgage which has gone up three times. So in reality, whatever they say, inflation is double it. So if it was 10 in 2020, it's 20. So not only did my asset prices go up probably 10% in that year, but if inflation in real terms was say 15, that's what they paid. My mortgage down relatively. So in one year my debt went down relatively 15, my asset went up relatively 10. So on tens of millions of real estate, I've done 25% net in a year thanks to the government and central banks.

So you just need to know that game.

This is why I teach people this stuff. This is what Rob Team is for, to awaken people. If people learn all this and they decide they want a job and, and they decide that paying taxes is a good public service and we need to look after the police and the nurses and they're happy to pay 70% of their taxes and yada, yada, yada, as long as you know how the system works, then cool.

What do you Think the riskiest investment.

Category is usually something that is very new and unproven, that early adopters are pumping, who have an ulterior motive to pump it, usually. So if they're getting a commission or they're earning money on pumping it, or they're in the asset and they've got a big influence, and so then pumping it pushes the value of their money up. If an IFA is recommending an investment to you and they get a commission on it, these are the most dangerous apparent investments. And the opposite of that is no ulterior motive proven over hundreds or thousands of years. Now, AI could be the next trillion dollar industry, but. But there will be many AI companies that will fail and some that will succeed. Crypto, we've seen bitcoin looks pretty good, but we've also seen ftx, which wasn't a crypto, but of course they made out that it was, it was just a platform. And we've seen all these shitcoins and altcoins go to zero. So crypto in and of itself can be bad or good. AI in and of itself can be bad or good. Any asset class in and of itself can be bad or good. Do you know people make a lot of money owning classic cars, but people lose a lot of money owning classic cars. Billionaires make a lot of money in art, A lot of people lose money in art. So it's not really about the class, it's about the knowledge of the class. What you want is legalized insider trading. You want to know so much about a class that it's like insider trading, but it's legal. That's how you make money in an asset class.

Well, with AI, if that eventually removes all of us from our jobs, which it won't, but carry on, well, let's open that. But there's a fear that it will. And if it does, how do we all get paid?

It's simple. You don't need to worry about how the world gets paid, you need to worry about how you get paid. And if you're worried about AI taking your job, then you need to learn how to own and operate AI. And then you have not. And then instead of becoming obsolete, you're now the owner of it. So the most obvious thing in AI is to learn AI. Nothing more to be said. But what people do is go, ah, they're taking all my jobs. The immigrants, the asylum seekers, they're taking all my jobs. AI's gonna take my job. No, get good at your job. That's David there. Snickering in the background. Like I, you know this because you hear this. I have slightly thinned my workforce recently. You know that because it got a bit bloated. And you know damn for a fact, I'll look you in the eyes. And you know this hand on heart, I have not fired anyone who's good. I will not let anyone go who's good. So stop bitching about how some asylum seeker, immigrant or AI will steal your job and just get good at your job. Because by the way, with AI, we're going to need humans who are good at jobs. Get good at your job, number one. And then number two, just make sure that that job is got a future. So if you're in a dying industry, but you're good at your job, you've got to reskill and you've got a sideways skill. So I'm sideways skilling into AI. I believe AI could be the future. I think there's many benefits to AI. So I'm imagining I'm the student again like I was 18 years ago. And I'm sideways learning AI because if there's a risk that it could wipe me out, why wouldn't you want to learn it? So it doesn't wipe you out. But people are just too. Victims, moaners, blamers and complainers.

Yeah, suppose 15 years ago a social.

Media manager didn't exist and now they teach it universities. I mean that says it. Or what about an agency owner? Didn't exist. What about a short form content editor? Didn't exist and now people are using AI to do all of those jobs we just said. So they're using out AI as their free outsourcer. I mean there is not a better, easier, more opportune moment in history to become wealthy as there is today. The only problem is too much choice. It's the only problem. And that is a real first world problem.

Well, how do you overcome that then?

Choose one thing, do it long enough to make it work.

You have to know what your outcome is. I think so, let's say it's to make money. I suppose you feel overwhelmed because you think, well, that way might be easier or that way might make more money. And then you end up doing nothing. When I first started going to the gym, it was the same thing as am I doing everything optimally? And then you get so overwhelmed and you watch so many videos, consume so much to make sure every meal is perfect, every training session that you end up not doing the thing which is going to the fucking gym. And actually, even if it's not the perfect rep or the perfect regime, or you're doing things in a not, you know, suboptimal order. At least you're actually just doing the fucking thing.

I wrote a book called Start Now, Get Perfect Later. And you probably wouldn't just get in the car and drive to nowhere. You'd probably get in the car and think, okay, what's the postcode? Or the zip code I'm going to? And then you would type in the zip code. You actually don't know the route. You look at the screen and that screen updates in real time. And sometimes there are diversions and roadblocks, but you have faith that you are on the journey even though you're not there yet, and even though you don't know how to get there because you're watching the screen unfold in real time, the future of the journey. But you get in the car because you want to go to your destination. You type in the seven digits of your destination and then you follow the map and you have faith that the map takes you to the destination. That is a great analogy for business. Wash your car, that one. What's your destination? I think there. That's enough to start, then put in your destination. It might be 10 grand a month, 50 grand a month. It might be to have a specific business or passion actually set up and live and then start today. And will you go down some snakes? Yeah. Will you go up some ladders? Yeah. Will you hit some roadblocks? Yeah. Might your business model evolve? Yeah. Might you go to a waypoint, even? Might you have to do a U turn and go through a big diversion? Might you change your destination? Yeah. But you can't do any of that until you start.

This is something I had to remind myself of recently. So, as you know, I've started a brokerage company for creators. I'm getting sponsors and connecting them with creators. And I sat there and I thought about it and I was like, that's probably going to top out. It may be a couple of hundred grand unless you get really big. And it's like, is that really worth it? You know, quite a hard ceiling on it. But then I had to keep reminding myself of, like, when Facebook started, it was just connecting people on Harvard. You fast forward 10, 15 years, it's connecting the whole world. They have a dating app built in. They've got an ebay competitor built in. They've got WhatsApp. Yeah. Instagram, and they've got all of these things. VR. Yeah. But he never intended it to be that. He just did the first thing and then more opportunities open. It's kind of like if you play a video game for the first time and the maps will grayed out, but you have to go and explore it and then you start seeing it. And I have to keep reminding myself of that every time. It's like, oh, there's a ceiling. Is it worth my time? Probably not. Whereas actually when you keep pushing through, you see that, oh, I could do that, oh I could do that. And then you start adding in all of these sort of add ons within your offering and then suddenly the money gets much better.

If you have a sponsorship agency and you think at the moment, well, my ceiling might be 100 grand a month in sponsorship revenue, those people who pay you will have other products and services they need or other problems they want solving. So then there's side selling or cross selling as it's known, upselling and downselling. As you build a database of anyone who could be a sponsor, you'll also naturally build a database of people who want sponsors. I guess the sponsors requested database will be huge. So now you have a huge database of people who want sponsorship. What else could you sell them? Maybe you could do guest acquisition for them. Like, here's a business model I'm happy to give out for free because I'd do it if I had time. So I really would do this. And I bet you the person or people who do this crush it. But will you do it? Are you ready? So PR wants to charge you three or five grand a month for no guarantees. Oh well, you know, it'll take us a year to get you out there and we need to write your press releases and they'll get you in some shite magazine, Horse and Hound for 11 year olds in some village. And you'll get nothing out of it. But they'll want their retainer. I think that business model is dead. Imagine if you set up a disruptive media company called Disruptive pr. Don't use that name. And you messaged everyone who has a podcast and said, I think all these retainers are ridiculous. I have an agency, I don't charge you you a thing. You just pay me for every guest I get you. How much will you pay me for an A Lister, B Lister or C Lister? And you just negotiate with everyone. You could have a rate card, but I'll tell you this Now, I'd pay five GS for a B A Lister. Tell you right now, I'd probably pay. I'd probably pay 50 grand for Joe Rogan. I'd probably pay 100 grand for Donald Trump.

That was the exact one I was about to ask.

I probably would like. I mostly don't pay for my guests because I don't have to, but I would if I could get a guest I can't get or if I thought I could get a return on it. So, you know, there's a percentage of that that if someone can get for me, they're getting paid. And let's say someone just gets a guest who's just a C lister. Fine. Pay 200 quid. If there was a guest you wanted who was good but at the bottom of your wish list but you wanted them, would you pay 300 quid as a one off to get them?

Yeah, probably.

You probably would. If there was a God tier level person, what would you pay? Well, I suppose like Joe Rogan's the biggest podcaster in the world. You have the podcasters podcast.

Yeah.

Would you pay 10 grand for Joe Rogan? Would you pay more?

I'd probably top out about 25.

Okay, fine. So you'd probably pay 25 to get Joe Rogan on the podcasters podcast. And you'd probably get an ROI on that because just all the new people that came and listened to that would probably pay for the. The 25.

Yeah, exactly.

There you go.

It's money in, money out. Do I see it?

Yeah. So that business model has a huge future. No one's doing it.

And with agencies there's no cost, none.

It's just you. Yeah, you're just outreaching people.

And if you need to outsource anything, you get paid normally with most agencies. And then you can do it. You start by yourself, get your first few commissions, then find somebody in the Philippines or whatever to start writing your emails.

Yeah, there you go.

That's pretty good.

There you go.

That's a free one.

Oh, did it. Did I tell you I'm an entrepreneur?

Yeah, no, no, I noticed it. All right, so here's something that keeps coming up every time I'm researching money in business. And you've done a lot of joint ventures over the 18 years. And something people keep being really scared of is what happens when a business relationship breaks down. Because that can be very costly. There can be legal issues. How do you navigate that or how do you prevent it from happening?

You prevent it from happening by one picking the right person or partner. That might be longevity, reliability, a desire to or proven track record of not running away from problems, cares about the customer or the end user. There's some Other criteria, and you might have your own individual criteria. But number one, pick the right partner, Number two, you strike the right deal. So that's the commercials and the legals. The commercials are what's the financial split and how does the money get paid and what's the flow and what are the technical elements of the commercial deal. Then there's the legals, who takes the money, what happens if there's a dispute, who owns the ip, all of that. Then you've got to create the contract and get that contract signed and agreed and committed to. Then you've both got to deliver your side. Now, ideally, if you do completely different things. So if I'm the promoter and you're the speaker, that's a good joint venture because you can fulfill the people in the room and I can put the people in the room. Whereas if I'm part speaker, part promoter and you're part speaker, part promoter, there's blurred lines there. And you're going to go, oh, you didn't fill the room. And I'm going to go, well you didn't. And then we're going to both want to speak. So that's not going to work. So you want to make sure you're both performing very different but complementary tasks or projects within the partnership. Then you need to execute, that is you need to do, do it well. Because the thing with partnerships is sometimes they break down just because one partnership isn't really performing anymore. And sometimes people talk about loyalty, but you can't be loyal to not making money because you are a business. So if you fall down on your side and you don't step up, that can end the relationship. Then the next thing is continual evolution, especially when it comes to communication. So I've had dozens of partnerships, many that have lasted 10 years plus one that's lasted the whole time, 18 years. You know my MD, it's her 14th anniversary being in the business this year and you know the person who sits next to her today is nearly 15 year anniversary. So I've got long term partnerships, but I have some that last a year or two or three and then exit. And they usually exit because of misaligned expectations, I. E. They thought they'd be making more money or they thought you should be doing more or they're not happy about A, B and C. And that's usually down to ineffective communication. So depending on how important the partner is, you want to make sure you spend the related amount of time with them to communicate well and clearly. And then conflict resolution would be probably the Final one, which is when there is conflict, face it, try and deal with it, try and handle it without lawyers, try and handle it respectfully. It's really important to make sure you note down and track any changes or commitments or agreements. A lot of people just do it verbally and then it gets lost and then it's. If it's not written down, it doesn't exist. I know that you can have spoken things that can become a contract in law, but if it's not written down, it's open to interpretation. If it's written down in black and white and confirmed, it's not open to interpretation. So conflict resolution, what are we on step five or six here? And then if you have to exit, how can you exit cleanly? Ideally, you're not in debt with obligations to fulfill, because if you've got obligations to fulfill one or both, the partnership is just going to want to balk and run because they don't want to have this financial liability. So manage your finances well through the partnership. Make sure you've got a bit of capital, cash flow so when it ends you can still fulfill afterwards if you need to try and amicably break. And then if it gets messy, you've got to get the lawyers in and ideally you don't want to do that. But stage one of getting the lawyers in is trying to come to a deal with the lawyers without going to court. You know, horse trade and, you know, use the lawyers to calm down the communication and just like trade and then final is go to court, which ideally you don't have to do. So steps end to end. There you go.

Do you think it's really important to enter into that with the same outcome in mind? So I'm thinking if one person wants a lifestyle business, the other one person.

Wants an empire, it's not going to work. Yeah. Or it could work for six to 12 to 24 months. But you've just got to be clear, the shorter the, the shorter the intention for the agreement, probably the less legal it has to become. So the first house that my business partner and I bought, we just bought the house, he put his money in, he had the first charge. We didn't have a shareholders agreement, we didn't have a joint venture agreement because we just thought, well, let's just try one house and if it doesn't work, fine, we both walk away. Mark has the house because it was his money. I don't. We probably won't be much worse off. So you can start going into partnerships by de risking it by Trying it before you end up with contracts and lawyers. There's a fine balance because if you don't do enough of the negotiation upfront, you miss things at the end and that becomes where the partnership falls down. But if you do too much upfront, you never start the thing. And you want to really, in an ideal world, this is an important part. You want to have watched them for three to six to 12 months first and you want to kind of get an idea of their character, their personality, how they handle stress and pressure. This is a huge one because if someone handles stress and pressure really badly, as soon as it goes wrong with you, they're going to handle it in the same way. So watch. How do they crack under pressure? Do they, like, become aggressive and. Or go immediately into legal mode under the first bit of pressure? Usually how a partner has dealt with everyone else is how they'll deal with you. If I'm interviewing someone or I've got a potential partnership and they're bitching about their last employer or their last partner, that's a big red flag for me because I think in three to five years they're going to be doing the same to me. So I like to test them to get them to talk about their previous partnerships and employers. And if they're respectful and seem to be objective, that's probably how they're going to be with me. But if they blame them for everything and they are Satan and the Antichrist and, you know, asylum seeking, stealing all my jobs, then I'm not employing them and I'm not going into partnership with them.

So if you meet your misses by them cheating on their ex partner with you?

Oh, it's like, well, that, that is another whole can of worms. So let me ask you that. Would you consider marrying someone who you were with and you really loved and you found out they were with someone when you dated them, I. E. They cheated on their ex to be with you, but you didn't know and now you're 12, 24, 36 months down the line, you're in love, what do you do? Because I asked this to Tristan Tate and he said, I'll just dump her straight away. And I'm like, really? Would you, mate? What if, to use their language, what, she's a 10, what would you do? You open this loop, by the way.

Yeah, I don't. I don't think it's a clear cut answer, but if we're sort of engaged or something, then I, I suppose I would have to see it, not have to see it. Through, but I think you choose to see it through. Yeah, I, I would have a level of respect for them and love for them that I would. I would probably see that through, knowing that there's going to be some risks associated with it anyway. But had I. But had I have met somebody and it was just dating and I found that out, then I would have. I would never get into a relationship with them at that point.

Wow. I'm gonna just say one thing. When people say I would never. I always think that the universe has a little way of testing that I'm not, you know, what are you, 24, 5. 25? You got a lot of years. And I'm not saying what's going to happen in your life because life's far smarter than me. But when I see people say I would never in a relationship, usually the universe presents them with that particular opportunity just to test that is my experience of the universe. It seems to have a somewhat sadistic sense of humor.

So would you if you had the power.

Well, that's the thing, because if you. Here's logically why I think this happens. If you say to me you believe something my. I want to test that. Yeah. If I want to know what you're about, and you say, well, I believe X, I might want to test that to see if you really believe that. That's what I think the universe does. When you're like, well, I would never do this and I always do this and I'm so loyal and I'm this and I'm that. I think the universe immediately tests it because, by the way, if you are, and you have a strong set of values, you're going to attract the right people into your life for that and you're probably going to get rewarded in, in some way for that. But I have, I can't tell you, Cane, how many people I've been in partnership that have. I will never go into business against you. I will never set up against Progressive. I would never go to another training company. I would never. I'm so loyal. I'm loyal to a fault. I self sacrifice with my loyalty. And then off they. As soon as it. Soon as it serves them, off they. So you know what? I. I love to think you're loyal to me. If someone waves 10 million quid in your face. Yeah, Rob, go yourself. At the very least, give me a chance to counter. That's all I'll say.

I think that's fair enough.

Yeah. So, yeah, I just. Look, we're having a bit of fun here, but Something to think about just.

Before we wrap up. Then let me reverse it. Same situation.

Context for me is everything, because I don't think many or any situations are exactly the same. So context is everything. If I was with someone and I'm five years in and, like, I'm wildly in love with this person, and I found out that in the first six months they were having an affair, and it turns out that they were with a narcissist who'd controlled them and, you know, made their life an absolute nightmare and a misery, and they were trying to get out, I would be empathetic to that. If they'd done it 72 times, I would be very skeptical of that. So context is everything. One thing I have learned in business, relationships and life is that be careful what and who you judge, because there are a lot of people who stand on a soapbox of superior morality. And generally, not always, but very. In almost every case, the more someone touts and shouts about their whiter than white morality, usually the more skeletons there are in the closet. I am a flawed human and I have made mistakes, and mostly with good intentions and occasionally because I couldn't control my emotions, and I don't know of another human who isn't the same. I. And I know people have judged me and they've done things that I deem to be worse, but they deem not to be worse. So if you think about it, and not many people talk about this, Kane, but all 7 billion of us should really be on the same team. Like, I know competition is good for business and it's good to have an enemy, but actually, we're all sharing this planet together in a very short moment of time. I understand the odds of being born right here, right now, or are alive in this moment are in the trillions to one. Someone will research it, put it in the comments. But basically, for me and you in this moment to be here, the odds are virtually impossible. And yet here we are. And I think sitting there and remembering that if you say something that sort of triggers me, or you did something I deemed to be imperfect, well, fucking hell, you human. And the odds of us being here are gazillion. And, you know, I like to think about that, that in my relationships, if, you know, my wife has done something that triggers me or whatever, or I'm not particularly happy in that moment in time. I'd be much unhappier if all my two kids and my wife had been kidnapped and they were threatened to being beheaded live on tv. I'd have a much bigger problem and it really helps me to contextualize if I'm getting irked about something so minuscule just to think like that, because immediately everything could be taken away from you. So I try my best not to judge.

I was going to leave it on that point, but you owe everybody something.

I don't owe anyone anything.

On you said at the end of the video you would say how much all the land in UK in the UK was worth.

Right. Last chance in the comments. If you're watching on the video, what do you reckon all the land and all the property there was some kind of commission done, I think, for tax purposes. Do your research. In 1088 the total value of all the land and all the Property in the UK in 1088 was about £1 million. Now in London, I reckon there's people who've paid £1 million for a parking space banging Central Knightsbridge. Bet if you wanted a parking space there to own, I bet it's a million quid. Plus, I don't know what the square footage of the UK is versus the square footage of a parking space. That's inflation.

Finally, what is the biggest financial risk of them all?

If you don't risk anything, you risk everything. The biggest financial risk is to take no financial risk. The biggest financial risk is to get a supposedly secure job. Jobs are one of the least secure ways to make money because you're not in control of your outcome. Someone tomorrow could say you're surplus to requirements. So if you investing is a risk, but the only way you make money by investing is taking the risk to invest. So saving is a risk. So you might as well invest if saving is a risk. But the biggest financial mistake is to never take a risk and always play it. This episode was brought to you by Disruptive Media, helping bold entrepreneurs stand out.

Through podcasting, video and social content.

Visit disruptive media.co.uk to learn more.

Foreign.

This episode was brought to you by Disruptive Media, helping bold entrepreneurs stand out.

Through podcasting, video and social content.

Visit disruptive media.co.uk to learn more.

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