9 Rules of Entrepreneurship

Hi, it's Rob Moore here, and I want to share with you 9 rules of entrepreneurship. And entrepreneurship, by definition, is kind of wrong, because if you look at the dictionary definition, it says take risk in the hope of profit. Um, hope is not a strategy. So firstly, I think we've got to redefine what entrepreneurship is. I don't believe it's taking risk in the hope of profit. I believe it is creating meaningful products and services that the world wants and needs. I believe it's about making people's lives easier, better, faster, more convenient, about being valuable and useful to as many people as possible. So I'm going to do now with you, for you, here with you, is to share 9 rules of entrepreneurship I've learned over 15 years of being an entrepreneur. Now, I started with £50,000 of personal debt in 2005, and things were going badly for me. You probably heard my full story, and if you haven't, that's for another time. Fast forward to now, and I got myself out of debt within the first year. I actually made nearly £100,000 in my first year clear. And then I became a millionaire by age 31, a deca-millionaire by age 35. I built the UK's largest property training business within 7 or 8 years with my business partner Mark Homer. I have multiple companies now, about 8 different income streams. I've authored 18 business and property-related books. I'm quite a big creator now on many social media channels. We do 15 to 21 million a year in the training and education space. I have 1,300 tenants now, it'll soon be 1,500 across hundreds of property portfolio units and apartments and blocks and buildings and single lets and multi-lets. Uh, I broke the world record for the longest public speech twice, and I have over 1,000 episodes of the Disruptive Entrepreneur and the Money podcast. So why do I say that to you? Because I've said that 1,000 times, I don't need to fucking say anymore. Um, it's it's because I want you to know that I know a bit about entrepreneurship, and it's my favorite passion, uh, that doesn't involve— yeah, it's my favorite, uh, it's my favorite passion. And, um, it's something that were money no such thing, I would still be an entrepreneur. And it's very rewarding because you get out what you put in, so You know, if you are employed, you could put a lot in and a lot of overtime and not get much back, or you could be, you know, making your boss look good. But when you're an entrepreneur, you solve problems, you make profit, as long as you're in under fair exchange. And you know my formula for the, the law of wealth: wealth equals value plus fair exchange times leverage. So there are some rules of money, but assuming that you're creating fair exchange and you're charging fairly for your work and you embrace sales and marketing Solve problems, make profit. Solve problems, make profit. Create useful products and services, make profit. Evolve, make profit. Innovate, make profit. Disrupt, make profit. Overcome big challenges, make profit. So here are my 9 rules of entrepreneurship that I think will help you start and scale a business and get better financial knowledge. Now, number 1 is value first. Number 2 is the purpose of a business or as an entrepreneur is actually not profit. Number 3 is to create fair exchange. Number 4 is to take risks to create useful disruptive progress. Number 5 is revolution and/or evolution. Number 6 is creating distribution and leverage. Number 7 is that a company is an ecosystem and a culture. Number 8 is what your reward for solving a problem is. And number 9 is how you grow. So here we go, are you ready? Let's have it, let's do it, thanks for tuning in. So value first. What this means is most people get it wrong in the world.

They're like, my boss is shit, I want to get paid more, I haven't had a pay rise in 3 weeks, fuck doing any more work, my boss is, um, um, and oh, my customers don't pay enough money, or ads are too expensive, it's not fair.

And they expect the world to change for them. The world does not work like this. You have to give value first. I believe the world and the universe is a mirror. I believe it gives you back exactly what you give it. If you're positive, happy, and inspiring, and you have a high frequency of energy and vibration, you'll attract people like that. If you're a neg, grumpy, then you're going to attract people like that, because you attract people at your frequency. The universe is a mirror. So you have to give value first to get value back. You have to be useful first to get, um, fair exchange back. So what you do is you create value first by creating meaningful and useful products, services, and solutions and then you will get customers and fees and profits. By the way, if you're watching it on the live, stay with me. I'm recording a podcast episode for The Disruptive Entrepreneur. I'll do a little bit of a Q&A at the end should I get time, because I can see quite a lot of questions coming in here. And if you listen to my podcast, The Disruptive Entrepreneur, make sure you follow me on TikTok and follow me on Facebook so you can get involved in the discussions. You can ask me some questions. All right, number 2 then. There's been this big movement recently, the profit first, and there's a book which is, I'm told, pretty good called Profit First. And you know, you've got to make profit first, and I get that because if you can't make profit in a company, you're insolvent, and that's actually trading illegally, and of course you can't sustain or scale. So you have to make profit. However, it's not profit first. Profit is the result, the outcome of a good, useful product and service and fair exchange and a solution and a mission-based monetary system in your company, that is the purpose of a company, and the result is profit. So what you do is you go, how can we be most useful to as many people as possible? How can we create a product and a service that people want and need? How can we have a, a purpose-driven organization? How can we have a vision and a mission? How can we inspire and serve and solve for people? And then the result, if you do that well, is profit. But if you go for profit first, because if you think— you imagine someone selling to you and you think they just want my freaking money, you're going to clam up. You're not going to want to spend with them. But imagine someone is not selling to you, they're serving you, and you feel like you can really gain from what they want and do, and you feel like they really want to help you, then you're going to probably quite gratefully give them money. So I'm going to push back on, you know, profit first. No, no, profit last. It'd be nice if it was first, but it's not, it's actually last. And the purpose of an entrepreneur in a business is to create meaningful and useful products and services and to create a vision and mission that's inspiring to many, and profit is the result. Which leads me to number 3 nicely, which is fair exchange. So fair exchange is the sweet spot between price and value. So unfair exchange is if you charge too much or don't offer enough for what you charge, you'll get refund requests, complaints, legal issues, reputational issues if you charge too much or don't give enough value compared to the price. And that's unfair in your favor. People will perceive that you're greedy, that you make too much profit, etc. And some billionaires get accused of that. Go on the other side, if you don't charge enough and don't make enough profit and you're not solvent, then you're insolvent and you're trading illegally. And you can't sustain or scale. So a lot of people, when they start, it's like, oh well, I can't really charge too much, I'm just starting, kind of, it's not really about money, I want to help people, just really, really want to help people. So yeah, I'm going to just do lots of free stuff for testimonials and just to give back, I just want to give back. And they're too weak. So you could be too strong or too weak, too greedy and power hungry, or to giving and caring. And there's a sweet spot in the middle, and that sweet spot in the middle is where people pay you and they're grateful and they feel that they've got value and they recommend and refer you, and you charge them and you like serving them and you feel grateful and you make a fair sustainable profit margin which is scalable as well as sustainable. Because sometimes you've got a profit and it works, but as you scale it, it doesn't work, it becomes too thin. Thank you for all the kind comments, by the way. All right, make sure you're following me on all my social channels. Do you listen to my Disruptive Entrepreneur Podcast? Are you following me on TikTok? I'm doing a lot of content on TikTok at the moment. Um, so yeah, just make sure you're following me all over the place. I will find you if you don't. Okay, number 4 then is— so the definition of an entrepreneur is to take risk in the hope of profit. Hope is not a strategy. However, I think you take risks to create useful disruptive progress. So cryptos are disrupting, um, the standard banking system and the standard form of money. Uh, and for example, TikTok is kind of disrupting Facebook. Clubhouse is kind of disrupting Facebook. The metaverse might disrupt the internet. So Uber disrupted taxis. Airbnb disrupted hotels. Netflix disrupted Blockbuster and, you know, DVD-based, um, film. So you take a risk. That's why when you, um, do well as an entrepreneur, you get paid big, because the risk and the reward is relative. Um, and you create useful and disruptive progress. There's no point being disruptive just for the freaking sake of it, taking potshots at everyone and trying to smash different industries. And, you know, disruption for disruption's sake is Not got words for it. Um, but disruptive for evolution and revolution, which brings me to point number 5. In a business, you need to evolve regularly over time, and every now and again, once or twice every 15 or 20 years, there's a revolution, a massive revolution in your industry. You need to be ready for it. So COVID created a massive revolution in the training businesses. You know, I've got a training business. Well, in most industries, revolution in the world But if you're in training business or you're in leisure or retail, etc., then your doors are shut for a year. That's a revolution. You've got to completely not just evolve but revolve, pivot 180, 360. But evolution is the continual growth of your company. So I believe you should be taking some profits and putting them back into innovation and disruption and evolution. And if you're green, you'll grow. If you're ripe, you rot. Therefore, you always want to look to be growing your organization, your culture, your your products and services. And then every now and again you get some revolution. If you think about it, Porsche's evolution almost looks the same as it did 50 years ago, but slightly tweaked, same design language. And then Ferrari and Lamborghini, a revolution, massive drastic changes every 7 to 10 years. All right, number 6 then is you need to create distribution and leverage if you want to be a successful entrepreneur. And distribution is, uh, how many people you reach. How many supply chains you infiltrate, how many followers you have on social media, how many customers you have, how many ad platforms you have access to, how many partnerships and collaborations. So if you can only reach 100 customers, then you're limited on growth. If you can reach 1,000 customers, you've got a bit more growth. If you can reach a million customers, or like Facebook and TikTok, a billion or 2 billion customers, then of course you have distribution. When you have distribution, you have leverage, and then you have scale and profitability. So if you look at billionaires, they've all got massive distribution. They all serve 100 million or even 2 billion clients or people or that user base. You know, if you look at many of the companies that sold for billions and hardly had any staff or revenue, like companies like Twitter and, you know, companies that are raising hundreds of millions now like Clubhouse with small teams, it's because they have hundreds of millions of users. So distribution creates leverage. All right, number 7 is as you build as an entrepreneur and you create a company, a company is an ecosystem. I.e., it has a culture. Every ecosystem has a culture, and your company will be an ecosystem. It will have its own culture where you have to communicate well and have connection, and it becomes about people. So, you know, a lot of people say, oh, you know, business is about people. Well, when you're a one-man band solopreneur, maybe it's not. But, you know, as you start getting a relationship with your clients and you build the culture Actually, the leverage is in people, because the more people you have, the more leverage of time you have. Because it's not you doing 15 hours a day, there's 100 people doing 8 hours a day. And of course, even though they're only doing half the hours that you are, there's 100 times of them than you. So you have, um, scale through people. And of course, productive people can be worth 5 times their salary to you. Unproductive people can be worth half their salary to you. So it can make a big difference. And, you know, I'm a big fan of building cultures and companies and ecosystems, and I like having a lot of staff. We have nearly 100 staff in our main companies. We have about another 100 again outsourcers, and we have about 50 to 70 contractors. So I'm directly or indirectly responsible for hiring over 250 people.

A lot of people are like, oh, fuck that shit, fuck that responsibility, HR, payroll, fuck.

I actually really like it. I think it's a great honor. And privilege to be able to have that many people who are part of our various missions and visions. Okay, number 8: your reward for solving a problem is a bigger problem. With every new level is a new devil. So a lot of people, when they start to scale a business, they wonder, oh, when I make a million, I could do what the fuck I want. When I get a Lamborghini and I've got 10 grand a month, I'll be living the dream. And they think that there's a destination, they think there's an outcome. They think they solve one problem or get to one level and that's it. Life is sweet, no more problems, no more difficulties, passive income, riches, bikini, piña colada, cigar. Yeah! No, sorry, your reward for solving a problem is a bigger one. That is how business works, because evolution requires you to grow, and it's challenge that forces you to grow. So you solve a challenge, you grow through it, your reward then is a new challenge, which is a bigger one, which Because you can't— if you get a challenge and you grow through it, you're not going to get offered the same challenges because one, you've grown through it, therefore it's not really a challenge anymore because you've grown through it. But to force you to grow now because you've set a new benchmark has to be a bigger problem. So if you think about Elon Musk, I mean, his problems are, are we trying to send people to space and people can die, or trying to, you know, launch a car company against Porsche and BMW and Audi and Mercedes, so massive corporations. He said hardest thing to launch a car company. Imagine the problems trying to get, you know, all these batteries under the car and make it light enough and fast and, you know, enough miles on the charge. And, you know, all the— probably all the car companies and all the, um, fossil fuel-based pressure that there was. Probably it was probably the one of the hardest things ever. And that's why he's a billionaire, because he solved bigger problems into, um, planetary almost problems he's trying to solve with going out into space, but certainly global problems. So if you help humanity on a global scale, you'll have global revenue. Um, so your reward— if you know that your reward for solving a problem is a bigger one, you receive the bigger problem with gratitude rather than, oh, I thought my life was going to be easy, I fixed that, why is something else fucking bust? Um, it's just the way it goes, and it's, it's evolution and it's life. And I think when you appreciate it and embrace it, actually paradoxically, it makes you feel pretty good, empowered, powerful, resilient, resourceful, etc. And then the final one about growth is you have to let go to grow. So a lot of people, when they get to a certain size, they try and control everything because that's what got them there. But what got you here won't get you there. So you have to let go to grow. Hiring staff, outsourcing, leverage, partnerships, collaborations, letting go of responsibility, giving people autonomy, that's stepping back. You have to let go to grow, and many entrepreneurs and self-employed people really struggle with that. Why? Because they've got too much control. They're scared. What if we make a mistake? What if they fuck up on my watch? No one can do it as well as me. All the customers want to speak to me. It's just an illusion. All the customers don't speak to Richard Branson or Elon Musk. Okay, so let me just do a quick summary for you. 9 rules of entrepreneurship. Number 1: Value first. Create meaningful, useful services and solutions. Number 2, the purpose is not profit. The purpose is the mission, the vision, the solution, and the service, and the profit is the result. Number 3, you create fair exchange, the fair balance between you making profit and then getting value. Number 4, you take risks to create useful disruptive progress. Number 5, constant evolution and periodic revolution. Number 6, create distribution and leverage growth. Impact, reach, distribution, um, gaining more followers on social media, being on all social channels, having more customers, building an ambassador and a referral program so people can refer you so you can grow through added distribution, infiltrating supply chains, partnering with people who have big distribution and leveraging their distribution. Number 7, a company is an ecosystem and a culture, and be mindful of that and create a Culture, communication, and connection through people. Um, number 8 is your reward for solving a problem is a bigger one. And number 9, you have to let go to grow. So if you'd like to more embrace being an entrepreneur, if you'd like to grow as an entrepreneur, if you'd like to create leverage and distribution of thousands of people, I invite you to join my Rob.team platform. Now I have a very low investment, um, platform which, uh, has now nearly 4,000 members, which you gain access to premium content, access behind the scenes, ask me anythings, etc., from me and my community. So, um, it's just the cost of a cup of coffee. It's £3.49. It's about $5, something like that. Now, if you are on Facebook right now, or you use Facebook a lot, the link is bit.ly bit.ly/cashrm. Bit.ly/cashrm. If you're on Facebook and you use Facebook and go there right now, and at bit.ly/cashrm, you'll see a little video. It's me telling you about what's in the, um, Rob Moore Team Supporter program, and it's just a few quid a month. So for example, you get a deep dive live masterclass every month. Like my 6-Stage 7-Figure Launch course or my 7-Figure Subscription Secrets masterclass. And there's one of them every month, and all the past ones are recorded. That alone is worth probably £100 a month. So if you go to bit.ly/cashrm, you can actually enroll and join on Facebook. There's nearly 4,000 members. It's a community of disruptive, hardcore energetic, enthusiastic start and scale-up entrepreneurs like you. Um, you also get an Ask Me Anything live with me every week, which I don't now do live on my social media platforms anymore. So this is just for, um, supporter and Rob.team members. And you also get 11 pieces of premium content with me minimum per month. Do behind-the-scenes content, advanced masterclasses, or content on interviews that couldn't get published. For example, with David Icke and John Fury, stuff that we couldn't publish because it might affect our channel and we wanted it to be behind the, um, you know, the scenes if you like. So you get access to all of that. You can come to some of my live events. We're doing a Mindset and Money event. I've got a 700 million net worth speaker doing a keynote and 100 million speaker doing a keynote. Wow, you get all of that for the cost of a cup of coffee. So go to bit.ly/cashrm. Now, if you don't use Facebook very much, you don't like using Facebook, go to the, the link rob.team. Just put in the— just open up a browser right now. Stop what you're doing, open up a browser and just put in rob.team. R-O-B dot T-E-A-M. It's exactly the same, but you just have my own platform rather than joining on Facebook. So, you know, for example, if you're watching here live on TikTok, or if you're listening on the podcast, you may prefer to join on my platform rather than Facebook. Um, you also get, uh, quarterly 10x your following challenges that I do, and quarterly make cash challenges. So every quarter, one starting in a few weeks, so join in right now. I do a 10x your following challenge and do loads of content. They give you strategies and tactics to 10x your following. My following on, on TikTok in the last 60 days has gone from 15,000, it's nearly 100,000 now. It's like 89,000, and it's growing at between 3,000 and 10,000 a day. So I figured that out. I go live on many channels, so I have multiple distribution. My podcast reached millions of people. My YouTube just smashed over 100,000, um, followers and has millions of views a month. So I'm really hacking the growth at the moment. I've been doing this a long time, by the way. I gained my first half a million followers in 7 years and my second half million followers in 9 months. So I know how to help you 10x your following. So if you go to rob.team, just put in a browser right now the link rob.team, you'll get these, um, 10x your following challenges, which I don't do for the public. You'll also get a quarterly Make Cash Challenge. So our winner this year made £300,000 in 5 days. The person who was second made, um, £35,000 in 5 days. So you can join these quarterly Make Cash Challenges. Someone just said, could have sworn I saw you in Coat earlier. Yes, you did, I was in, in Coat. Um, so if you go to rob.team right now, I'm going to end this now, literally got 1 minute. So go to rob.team, you get the monthly masterclasses. I'm going to do one every month and I'm going to get a guest millionaire to do one every month, like deep dive, 2, 3, 5-hour courses. Sometimes a day-long course, sometimes a 2-day-long course, and you're going to get that as part of your subscription. Like the 7-Figure Subscription Secrets— I shouldn't be doing this, but it's gonna, it's gonna be a £1,500 minimum course, and I'm actually going to give it to supporters and Rob.team members just for your subscription first. It's a way for me to kind of build it up and get my first version done and my first practice run. So that immediately saves you £1,500. So yeah, Claire, um, someone raised, made £35,000 in 5 days on my Make Cash Challenge. Someone else made £30,000, someone else made £26,000. Ish, someone did £300,000 in raising finance for a joint venture for a property. So you get the quarterly Make Cash Challenges, you get the quarterly 10x Your Following Challenges, it's all at the link rob.team, R-O-B dot T-E-A-M. So go there right now and I will see you on the other side. If you're listening to the podcast, remember, if you don't risk anything, you risk everything. Now if you're watching on Facebook, you might want to join via Facebook, and because you get the Facebook Lives and you get the Facebook group. So if you are— if you use Facebook a lot, you could go to the link bit.ly/cashrm, bit.ly/cashrm, which I've put in the comments. If you're watching on TikTok, I'd go to rob.team. Honestly, my, um, Facebook account manager said I have one of the biggest supporter programs in the world and we give the most value that they've ever seen. I don't think anyone in the world gives more value for $5 a month. And if you find them, I'll up my game. I'm actually going to make this claim right now. No one on the planet gives as much value for $5 a month as what I do. And challenge me. Go in, have a look. You can always cancel after, you know, a week or a month. So go to rob.team right now. So thanks for tuning in on the Facebook Live. And let me just do a quick summary. The 9 Rules of Entrepreneurship. Value first and create meaningful, useful services and solutions. Number 2, profit is not the purpose. The purpose is to have a meaningful mission and vision that helps as many people as possible, useful products and services, and then profit is the outcome. Number 3, create fair exchange where you charge fair fees and get fair profit and they get fair value. Number 4, take risks to create useful disruptive progress. Number 5, revolution every 10, 15, 5, however many years, and evolution continually. You have to let go to grow is number 9, and you have to constantly evolve and overcome new challenges, um, to keep your company going, because if it stays the same, it's actually decaying. You need to create distribution and leverage by being on multiple channels and multiple supply chains and having partners and collaborations and leveraging other people's audiences and having global reach and distribution. A company is an ecosystem, so treat it like one. And people are culture and communication and connection, and you become a people-based business the longer you're in business, and your reward for solving a problem is a bigger one. So if you're watching on the Facebook Live, go right now— I'm ending the live— to bit.ly/cashrm. I'll see you in the Rob Moore Supporter Program with all those amazing benefits. Um, Claire's exhausted listening to me. Yeah, I speak fast and I ram a lot in. I'll see you at bit.ly/cashrm.