English transcript

Most entrepreneurs in the beginning of their

career are operators. Operators do everything.

They try to keep everything as tight as possible.

They hire the best person they know, themselves.

And then they hire the next best person they

can do, but the best person they know they hire,

they also don't pay them enough usually, because

it's their business to make it go. And you get

stuck in a certain plateau unless you get to

a point... The reason I have all these businesses,

how could I possibly run 114 businesses, have

five kids, five grandkids, travel the world,

do my speaking, do all the things I do, have

a life, if I was an operator?

I'm an owner. So I've learned how to be an owner.

An owner is somebody I've learned how to build

teams that can do those things. But to do that,

I had to go through the process that most young

entrepreneurs don't do, which is, you know you

can do it better than somebody else, so you

do it yourself. And so, as long as you do that,

then no one else can make the mistakes, they

can't learn, they can't grow, and you're tied

to the business. So your business is really

a paid job. A very paid job, maybe a highly

paid job, but it's a job still. It's not a business

till you can walk away for a month or two and

do nothing and have it keep growing. So you

have to decide if you want a job or if you want

a business. And there's nothing wrong with having

a, you know, as a independent, you know, someone

who's, uh, owns their own business is, that's

what they call it. But usually what that person

is, they're self-employed, to be a more accurate

description. If you own a business, then you

have a system that works without you. All these

businesses I'm telling you about, I'm strategic.

I enter in strategically at different points.

I make strategic decisions. I help the teams.

But I don't have to be there for them to run.

Or there's no way on earth I could do what I'm

doing. I mean, I'd be run ragged. Completely.

I wouldn't even run ragged. It would be impossible.

So you're at a stage as an entrepreneur where,

unless, there's nothing wrong with staying self-employed.

But if you ever want to get beyond that scarcity

mode, you're going to have to make some, take

some risks. Not huge ones. They can be risks

that you guys can test, you know, in a very

simple way with a small amount of money, prove

that it works, and then that would be more his

strategy, and then move forward. But you're

not going to usually, you know, in a relationship,

people usually have opposites in how they deal

with things.