These Are The Best Business Books To Read (7 Billionaire Books)

00:36:35
https://www.youtube.com/watch?v=vYv3YYXszXs

摘要

TLDRThe video is centered around the nine books that have greatly influenced the speaker, contributing to the building of their $100 million business. These books are mainly biographies of billionaires, which provide more substantial and practical lessons than traditional self-help books. Each book offers unique insights from their high-achieving authors or subjects, such as the founders of Home Depot and Walmart, Steve Jobs, Elon Musk, and others, revealing key strategies and mindsets that have driven their success. The speaker shares anecdotes and lessons from each book, explaining why they are instrumental for entrepreneurs looking to expand their businesses and increase their wealth. The books discussed include "Built from Scratch," "Poor Charlie's Almanack," "The Ride of a Lifetime," "Steve Jobs" by Walter Isaacson, "Elon Musk" by Walter Isaacson, "Made in America" by Sam Walton, "Am I Being Too Subtle" by Sam Zell, among others. The speaker emphasizes learning from billionaires, about making bold moves, understanding customer needs, leveraging investments, and thinking innovatively. Additionally, the speaker is offering a giveaway of these books to encourage viewers to dive into these learnings.

心得

  • 📚 Books from billionaires provide valuable business insights.
  • 💡 Biographies often teach more than self-help books.
  • ⚙️ Built from Scratch details Home Depot's strategic growth.
  • 👔 Charlie Munger emphasizes simple, profound business wisdom.
  • 🎡 Disney's evolution under Bob Iger's leadership is a study in bold moves.
  • 📱 Steve Jobs' perfectionism reshaped technology and branding.
  • 🚀 Elon Musk champions innovative thinking from first principles.
  • 🏪 Sam Walton's Walmart strategies focus on cost and customer.
  • 🛠️ Sam Zell's tactics in revitalizing struggling businesses.
  • 🎁 Giveaway of these books to encourage learning and growth.

时间轴

  • 00:00:00 - 00:05:00

    The speaker introduces their annual reading habit of over 50 business books, focusing on nine influential ones by billionaires that aided in building a $100 million business. They suggest biographies of billionaires are more educational than self-help books due to the practical lessons and inspiration they provide, aiming to save viewers time by summarizing these impactful insights. The first book is 'Built from Scratch' by Home Depot's founders, detailing its tactical business growth story and lessons from starting with limited resources.

  • 00:05:00 - 00:10:00

    Emphasizing key lessons from 'Built from Scratch', the speaker highlights the value of cultivating customers, maintaining low prices, and eliminating middlemen in industries. These strategies enabled Home Depot's growth from a $35 billion to $365 billion market. Switching to the next book, 'Poor Charlie's Almanac' by Charlie Munger, insights focus on foundational business rules and frugality, with anecdotes illustrating Munger’s strategic thinking and investment wisdom, emphasizing 'inverse thinking' and mental models to optimize decision making.

  • 00:10:00 - 00:15:00

    'Poor Charlie's Almanac' promotes mental models and inverse thinking for effective decision-making, teaching not only from successes but examining what to avoid. Transitioning to 'The Ride of a Lifetime' by Bob Iger, Disney’s transformation under his leadership is discussed, highlighting his strategic acquisitions of Pixar and Star Wars. Iger’s philosophy of asking questions to learn and innovate, and his bold, decisive business strategies are presented, contrasting with more calculated approaches like those from Home Depot’s founder.

  • 00:15:00 - 00:20:00

    Discussing 'Steve Jobs' by Walter Isaacson, the segment covers Jobs' unique vision and perfectionism, referencing influential campaigns and meticulous product development ethos, like the switch from plastic to glass screens on iPhones due to Jobs' insistence on quality. The book presents Jobs as deeply flawed yet highly successful, emphasizing leadership principles such as focusing efforts on fewer, bigger priorities and embracing one’s unique vision despite imperfections.

  • 00:20:00 - 00:25:00

    The narrative continues with a personal plug for their own book aimed at empowering people to gain business ownership, before discussing 'Elon Musk' by Walter Isaacson. The book provides a deep dive into Musk's upbringing and business philosophy, particularly his first principles thinking and extreme ownership. The speaker praises Musk's mindset of pursuing significant goals despite potential failure. The biography illustrates that personal flaws do not preclude professional brilliance, offering motivational insights into achieving extraordinary results.

  • 00:25:00 - 00:30:00

    A deep dive into 'Sam Walton: Made in America' reveals insights on building a lasting business focused on customer obsession, cost-consciousness, and learning from competitors. Walton’s personal story showcases modest beginnings, resistance to publicity, and constant business refinement through direct engagement with store associates. These practices contributed to Walmart's growth into a retail giant, reinforcing lessons about leadership, operational excellence, and innovation drawn from his unconventional yet effective approaches.

  • 00:30:00 - 00:36:35

    Closing with 'Am I Being Too Subtle?' by Sam Zell, the narrative stresses risk-taking for above-average returns and resilience against rejection. Zell, known as 'the grave dancer' for reviving failing enterprises, exemplifies shrewd investment strategies and simple, effective decision-making. The speaker concludes by encouraging viewers to pursue billionaire wisdom through these books and invites them to participate in a book giveaway, reinforcing their message of learning from successful models to achieve personal and professional growth.

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思维导图

Mind Map

常见问题

  • Why should I read these books?

    These books offer insights, strategies, and lessons from successful billionaires, providing guidance for business growth.

  • What is "Built from Scratch" about?

    "Built from Scratch" is by the founders of Home Depot, chronicling their journey from start to a massive enterprise.

  • Who is Charlie Munger in relation to Warren Buffett?

    Charlie Munger was Warren Buffett's right-hand man, and his book offers simple yet profound business wisdom.

  • Who is Bob Iger, and what is he known for?

    Bob Iger was the CEO of Disney, known for the successful acquisitions of Pixar and Star Wars.

  • What was Steve Jobs known for?

    Steve Jobs was a perfectionist and influential leader, known for his role in making Apple a leading brand.

  • What is the book "Main Street Millionaire" about?

    Main Street Millionaire focuses on buying businesses as a key to ownership and financial growth.

  • What is Elon Musk's business approach?

    Elon Musk emphasizes first principles thinking, breaking down complex ideas to their basics for success.

  • What was unique about Sam Walton's business approach?

    Sam Walton was known for his relentless focus on cost savings and customer satisfaction at Walmart.

  • What is "Am I Being Too Subtle" about?

    The book documents Zell's experience in revitalizing struggling businesses and his reputation for taking risks.

  • Why is the speaker giving away these books?

    The speaker is giving away these books to encourage viewers to learn from billionaires and grow their own businesses.

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  • 00:00:00
    I read or listen to over 50 books a year
  • 00:00:01
    on business I skim most of them I study
  • 00:00:04
    a select few these are the nine books
  • 00:00:06
    that helped me build a $100 million
  • 00:00:08
    business and they transformed just about
  • 00:00:10
    everything but why are these the books I
  • 00:00:12
    come back to because they are from
  • 00:00:14
    billionaires and I truly believe
  • 00:00:16
    biographies of billionaires teach you
  • 00:00:18
    more than self-help books and are the
  • 00:00:19
    best way to learn so the goal of this
  • 00:00:21
    video is to save you hundreds of hours
  • 00:00:24
    by sharing the most valuable lessons
  • 00:00:25
    from each book why you should read it
  • 00:00:27
    and how to implement these principles in
  • 00:00:30
    your life to grow your business and make
  • 00:00:31
    more money and at the end I got a little
  • 00:00:33
    special giveaway for you so make sure to
  • 00:00:35
    stick around but before we get into it
  • 00:00:38
    don't be a bad Vibe you need to
  • 00:00:39
    subscribe we don't want to fill your
  • 00:00:41
    head with nonsense instead here we do it
  • 00:00:43
    all with common sense okay first up
  • 00:00:45
    built from scratch this is the book from
  • 00:00:46
    the two founders of the Home Depot on
  • 00:00:48
    how they built a company from nothing to
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    $30 billion why should you read this one
  • 00:00:52
    because it's actually 300 billion the
  • 00:00:54
    new market cap of Home Depot what I love
  • 00:00:56
    about this book in general is it's the
  • 00:00:58
    story of how two Founders step by step
  • 00:01:01
    built a company that's lasted far beyond
  • 00:01:03
    them and probably will for decades in
  • 00:01:05
    the future I want to steal the homework
  • 00:01:07
    from people who bootstrapped their
  • 00:01:08
    business didn't have a lot of cash
  • 00:01:10
    didn't have a lot of experience because
  • 00:01:12
    I think that's probably a lot of you
  • 00:01:13
    guys and me too I never raised money for
  • 00:01:15
    this company for instance or most of my
  • 00:01:17
    companies the interesting part about
  • 00:01:19
    this book in my opinion it is so
  • 00:01:22
    tactical in an age before people who
  • 00:01:25
    wrote books were just trying to get
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    speaking gigs and famous and talk on
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    stages you can't find these guys
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    anywhere try to Google them they're
  • 00:01:32
    literally not available and because of
  • 00:01:33
    that this book is it's not fluff it's
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    not a book as a business card it is only
  • 00:01:38
    for Builders so I really like it I
  • 00:01:40
    recommend you listen to it on audiobook
  • 00:01:42
    I don't think you have to read it that's
  • 00:01:43
    what I do and I've listened to it a few
  • 00:01:44
    times one of my favorite stories from
  • 00:01:46
    the book is about them getting fired so
  • 00:01:50
    what actually happened to create Home
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    Depot is that the two founders of it
  • 00:01:54
    started at another company and that
  • 00:01:56
    company they were moving they were
  • 00:01:58
    growing within the company and they
  • 00:01:59
    thought they were doing pretty well but
  • 00:02:00
    apparently they were too aggressive for
  • 00:02:02
    what was his name Sandy seelhoff who was
  • 00:02:05
    the head of the company and he fired
  • 00:02:07
    them from a company called dalan
  • 00:02:08
    Corporation and told them that they were
  • 00:02:10
    inept that he could do it all himself
  • 00:02:12
    and firing them is what led them to
  • 00:02:14
    light a fire underneath them and so I
  • 00:02:16
    think for a lot of people we don't
  • 00:02:18
    realize that the thing that is waiting
  • 00:02:20
    to propel us in the future is the most
  • 00:02:22
    painful thing that might ever happen to
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    us what's interesting is the two
  • 00:02:25
    Founders Home Depot were also inspired
  • 00:02:26
    by another book we're going to talk
  • 00:02:27
    about which is from the founder of w Sam
  • 00:02:30
    walson sometimes we can't be what we
  • 00:02:32
    can't see and these two guys they saw
  • 00:02:34
    somebody else just like them from a
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    small town didn't go to fancy schools
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    didn't have a lot of cash but still were
  • 00:02:40
    able to build a giant company the other
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    thing that is unique in this book in my
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    opinion is one they start from the idea
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    of low prices because they couldn't
  • 00:02:50
    afford very much they couldn't afford to
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    create a luxury store because they
  • 00:02:53
    didn't have any money so they were like
  • 00:02:54
    let me solve my own pain before Home
  • 00:02:56
    Depot existed you couldn't just go out
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    and buy all the things you needed to
  • 00:03:01
    redo your house you had to go to
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    specialty stores you had to go to
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    contractors sometimes you had to show
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    your contractor's license even to get
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    into the specialty stores and Home Depot
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    totally revolutionized that so they were
  • 00:03:10
    like wait a second we're kind of broke
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    we're kind of poor we want to redo our
  • 00:03:14
    house we can't afford a contractor what
  • 00:03:16
    would it look like if we built a big
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    Warehouse what if we just bought a
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    warehouse or leased a warehouse brass
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    tax nothing really in it not pretty
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    throw up a bunch of cheap shelves boxed
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    goods and if people will come in and buy
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    our stuff everybody else in the industry
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    told them that they were crazy and they
  • 00:03:35
    said we don't think so because we think
  • 00:03:37
    that people wanted do it themselves they
  • 00:03:39
    can't and they can't afford contractors
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    and so they took this lowprice paino
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    idea and created an Empire what's
  • 00:03:46
    fascinating is if you were to go back
  • 00:03:48
    before Home Depot was created and pull
  • 00:03:50
    at the average Americans do you want to
  • 00:03:53
    redesign and redo your house yourself
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    and could you redesign and redo your
  • 00:03:56
    house yourself 10% of Americans back
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    then thought they could do Home
  • 00:04:00
    Improvement today it's more like 56% so
  • 00:04:03
    they have single-handedly taken
  • 00:04:05
    construction home construction out of
  • 00:04:07
    the hands of the few and put it into the
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    hands of the many that's one reason one
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    of the other reasons is they changed the
  • 00:04:12
    rules of the game how anywhere you have
  • 00:04:14
    an industry where you have a middleman
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    There's an opportunity to build a
  • 00:04:17
    business the middleman in this instance
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    used to be these specialty stores used
  • 00:04:20
    to be contractors and they were like
  • 00:04:23
    gosh if I just got rid of this guy in
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    the middle I could decrease the price by
  • 00:04:27
    100% 200% 50% depending on the issue so
  • 00:04:30
    that's exactly what they did they got
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    rid of the man in the middle and look at
  • 00:04:33
    how much money they made doing that they
  • 00:04:35
    took the home do-it-yourself Market from
  • 00:04:39
    a $35 billion Market to a
  • 00:04:42
    $365 billion Market just during the
  • 00:04:45
    writing of this book when they had
  • 00:04:46
    created $3 billion company I think the
  • 00:04:48
    idea here is when somebody says you
  • 00:04:50
    can't it's often because they don't want
  • 00:04:52
    you to I want to share one of my
  • 00:04:53
    favorite quotes So they say the key is
  • 00:04:55
    not to make the sale the key is to
  • 00:04:57
    cultivate the customer at the Home Depot
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    cul ating the customer is much more
  • 00:05:01
    important than creating a bottom line we
  • 00:05:03
    teach our Associates that if you can
  • 00:05:04
    save a customer money do it we're not
  • 00:05:06
    looking to fleece the customer if I can
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    save them a hundred bucks why not do it
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    that reflects one of our core values
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    care for them today they'll be back
  • 00:05:13
    tomorrow I love this now they paired
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    this idea because if that was the only
  • 00:05:18
    idea all your employees might say buy
  • 00:05:19
    everything for free from somebody else
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    let me give this away they paired it
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    with one other thing never let a
  • 00:05:25
    customer leave the store empty-handed
  • 00:05:27
    period if there was something they
  • 00:05:28
    needed that they didn't have then we
  • 00:05:31
    would figure out a way to get them to
  • 00:05:33
    their goal I think this idea of always
  • 00:05:36
    satisfying the customer means that they
  • 00:05:38
    always buy something with this idea of
  • 00:05:40
    never overcharging the customer so it's
  • 00:05:42
    simultaneously you feel like man they're
  • 00:05:43
    taking care of me and man they're taking
  • 00:05:45
    care of me but profit is in the middle
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    now how does this apply to you if you
  • 00:05:49
    want to get rich you should only take
  • 00:05:51
    advice from those who already are rich
  • 00:05:53
    if you want to build a billion dollar
  • 00:05:54
    business you should probably listen to
  • 00:05:55
    those who have built billion- dollar
  • 00:05:56
    businesses these two guys have done it
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    and it's actually lasted the test of
  • 00:05:59
    time so let's steal their homework
  • 00:06:01
    number two poor Charlie's Almanac which
  • 00:06:03
    is this one right here okay this is one
  • 00:06:06
    of the best books of all time in my
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    opinion Charlie Munger was the right
  • 00:06:10
    hand to Warren Buffett in creating
  • 00:06:12
    birkshire Hathaway he put together this
  • 00:06:15
    compilation of his best speeches emails
  • 00:06:18
    scripts since they started what's
  • 00:06:21
    fascinating about this book in my
  • 00:06:23
    opinion is it's an easy read Charlie
  • 00:06:25
    Munger kind of talks like your grandpa
  • 00:06:27
    but you know if you mix raisins with tur
  • 00:06:29
    they're still turds kind of these quotes
  • 00:06:32
    and idioms and pieces of wisdom that are
  • 00:06:34
    so simple to understand because of the
  • 00:06:36
    way that he communicates and yet this
  • 00:06:39
    man has created more wealth than almost
  • 00:06:42
    anybody in this country and the quote on
  • 00:06:44
    the back is there is an old two-part
  • 00:06:45
    rule that often works wonders in
  • 00:06:47
    business science and Elsewhere One take
  • 00:06:48
    a simple basic idea and two take it very
  • 00:06:51
    seriously it seems too simple and yet
  • 00:06:53
    that is part of the magic of Charlie
  • 00:06:55
    Munger I think you should read this book
  • 00:06:57
    if you want to become a better investor
  • 00:06:58
    if you want to get better at decision
  • 00:06:59
    making if you want to figure out how to
  • 00:07:01
    take your money and make more money with
  • 00:07:02
    it and if you want to replicate the best
  • 00:07:04
    investor of our time probably in tandem
  • 00:07:07
    with Warren Buffett his success one of
  • 00:07:10
    the best stories from Charlie Munger
  • 00:07:12
    that I really loved is he talks about
  • 00:07:14
    being incredibly Frugal but also caring
  • 00:07:16
    a lot about the way that he looks so
  • 00:07:17
    throughout the book there are stories
  • 00:07:18
    from his kids from his wife from his
  • 00:07:21
    friends perfect example from Charlie
  • 00:07:23
    Monger is his son talking about how his
  • 00:07:25
    father was a man of very few words not a
  • 00:07:28
    lot of compliments I don't know if any
  • 00:07:29
    any of you guys have a dad like that and
  • 00:07:31
    so one time his son sends him a book
  • 00:07:33
    called trillin and the book was about an
  • 00:07:36
    immigrant family and the growth of this
  • 00:07:39
    family and sort of the midwestern values
  • 00:07:41
    and humor that they had in building a
  • 00:07:43
    huge business and so his son sends the
  • 00:07:46
    book to his dad and he's pretty excited
  • 00:07:47
    he thinks his dad's going to like the
  • 00:07:49
    book and all of a sudden he gets the
  • 00:07:51
    book back in a padded envelope with an
  • 00:07:53
    address label written by his dad's
  • 00:07:55
    secretary there was no note so his son
  • 00:07:58
    never knew if he rejected it or not he
  • 00:08:01
    never even asked his dad he just kind of
  • 00:08:02
    thought maybe he never read it or he
  • 00:08:04
    never received it but it turns out his
  • 00:08:06
    dad liked it so much that he sent copies
  • 00:08:08
    of it to the whole family and so I think
  • 00:08:09
    this is a little bit of an example of
  • 00:08:11
    these days it seems like we always want
  • 00:08:12
    a feedback loop we always want more
  • 00:08:14
    compliments and more comments but
  • 00:08:16
    sometimes we can make a lasting impact
  • 00:08:18
    just because we think it's right and we
  • 00:08:19
    don't have to have all the rigor moral
  • 00:08:22
    as much as you can and Charlie M talks
  • 00:08:23
    about this get people who don't tell you
  • 00:08:26
    exactly what you want that they're hard
  • 00:08:27
    on you and Charlie Munger was certainly
  • 00:08:30
    that he also was really well known for
  • 00:08:32
    sitting in what they call his Mount
  • 00:08:34
    Rushmore chair which was a chair
  • 00:08:36
    probably kind of like this where he
  • 00:08:37
    would read newspapers every single day
  • 00:08:38
    he was a voracious reader and the Mount
  • 00:08:40
    Rushmore chair you weren't allowed to
  • 00:08:42
    bother him for like two hours a day he
  • 00:08:44
    was stonefed he wouldn't talk to anybody
  • 00:08:46
    he wouldn't engage and he was really
  • 00:08:48
    intimidating to his kids but he realized
  • 00:08:51
    that his only differentiator in life was
  • 00:08:53
    could he consume more information than
  • 00:08:55
    other people do because he didn't think
  • 00:08:56
    he was smarter than other people he
  • 00:08:58
    simply thought that he worked worked
  • 00:08:59
    Harder by getting more into his head
  • 00:09:02
    than anybody else could and in this day
  • 00:09:03
    and age with podcasts audio books
  • 00:09:06
    YouTube I think we all have that
  • 00:09:08
    capability but we're so distracted right
  • 00:09:10
    30second Tik toks steal our attention
  • 00:09:12
    all the time from a book that could
  • 00:09:14
    actually change our lives if we went all
  • 00:09:15
    the way through it and so a reminder for
  • 00:09:18
    you sometimes to go to Mount Rushmore
  • 00:09:20
    what is unique from this book Munger was
  • 00:09:22
    known for mental models so if you go and
  • 00:09:26
    look about stories on on Monger there
  • 00:09:29
    will be points again and again where
  • 00:09:31
    instead of making a decision once and
  • 00:09:32
    deciding yes or no on it he will say
  • 00:09:35
    this is a type of decision that I will
  • 00:09:37
    probably have again how do I answer
  • 00:09:40
    questions like this decisions like this
  • 00:09:42
    and so he has favorite quotes and lines
  • 00:09:44
    like you can Le a horse to water but you
  • 00:09:46
    can't make it drink so what would that
  • 00:09:48
    be about well in one instance he would
  • 00:09:50
    say the most important thing when you're
  • 00:09:52
    hiring somebody is to realize that you
  • 00:09:54
    can't teach desire it's the same quote
  • 00:09:57
    so what is he saying there he's saying
  • 00:09:58
    when you go to partner with somebody
  • 00:09:59
    when you go to hire somebody you need to
  • 00:10:01
    make sure they want it cuz you can't
  • 00:10:03
    want it more than them so if he was
  • 00:10:06
    deciding between hiring candidate A or B
  • 00:10:08
    he would find the one who would want to
  • 00:10:10
    drink he would find the one who would
  • 00:10:13
    want it more for themselves than he did
  • 00:10:15
    so he wouldn't have to keep answering
  • 00:10:17
    that question to himself how do I decide
  • 00:10:19
    who to hire it would be who is the
  • 00:10:21
    thirstiest and actually going to drink
  • 00:10:23
    one of the other things that Monger does
  • 00:10:25
    that I thought was really interesting is
  • 00:10:27
    instead of learning from the positive he
  • 00:10:30
    would do what's called inversion he
  • 00:10:32
    would say invert always invert so often
  • 00:10:34
    when I'm going to have an activity I go
  • 00:10:36
    if I did the same activity for 100 days
  • 00:10:38
    or more would I have a better life or a
  • 00:10:41
    worse life if I eat I ice cream every
  • 00:10:43
    day for 100 days better or worse worse
  • 00:10:45
    okay maybe don't do it if I read 30
  • 00:10:47
    minutes every day focused attention
  • 00:10:49
    instead of tick tocking would my life be
  • 00:10:51
    better or worse better do it and so
  • 00:10:53
    instead of thinking about could I be
  • 00:10:55
    better think about would it be worse and
  • 00:10:58
    he does this again again and it's called
  • 00:11:00
    inverse thinking and very important if
  • 00:11:02
    you want to be an investor too because
  • 00:11:04
    imagine one of him and Buffett's famous
  • 00:11:06
    lines is rule number one to investing is
  • 00:11:08
    never lose money rule number two is
  • 00:11:10
    don't forget rule number one and so if
  • 00:11:12
    you want to be a good investor you
  • 00:11:14
    always have to think about the downside
  • 00:11:15
    more than the upside otherwise you are a
  • 00:11:17
    happy fool Distributing money to other
  • 00:11:20
    people's hopes and dreams and never
  • 00:11:21
    having it come back to you number three
  • 00:11:23
    the ride of a lifetime Lessons Learned
  • 00:11:25
    From 15 years at the helm of Disney this
  • 00:11:28
    is
  • 00:11:29
    so this is a book by oh this is going to
  • 00:11:32
    go poorly I'm going to leave it right
  • 00:11:34
    there this is a book by the CEO of Walt
  • 00:11:36
    Disney World so Bob Iger so it basically
  • 00:11:39
    Chronicles everything that happened to
  • 00:11:41
    create the happiest company on the
  • 00:11:43
    planet and what I think is interesting
  • 00:11:45
    about this book in general is that he
  • 00:11:47
    was at Disney through a pivotal period
  • 00:11:50
    with a ton of Transitions and changes
  • 00:11:52
    and went from being a normal employee to
  • 00:11:55
    the CEO of the company to one of the
  • 00:11:56
    richest men in the world and so I think
  • 00:11:58
    we should steal his homework when Iger
  • 00:12:00
    became the CEO of Disney in 2005 he came
  • 00:12:03
    in right as Disney and Pixar were having
  • 00:12:06
    a strained relationship they had a
  • 00:12:07
    partnership right where they were
  • 00:12:09
    Distributing content together Steve Job
  • 00:12:12
    was was over Disney he wasn't into it he
  • 00:12:14
    didn't think they should continue the
  • 00:12:15
    partnership so Iger took a huge risk he
  • 00:12:18
    said I'm going to double down on you
  • 00:12:19
    Steve Jobs and on Pixar so much so that
  • 00:12:22
    instead of just being a partner I'd like
  • 00:12:24
    to outright acquire Pixar huge move and
  • 00:12:29
    Steve Jobs if you read anything about
  • 00:12:30
    him loves big moves so he realized that
  • 00:12:33
    he was dealing with a player here not
  • 00:12:34
    somebody was going to tiptoe but take a
  • 00:12:36
    huge jump they ended up acquiring Pixar
  • 00:12:39
    it was one of the most successful
  • 00:12:41
    Acquisitions in Disney's entire history
  • 00:12:43
    and they developed a really close
  • 00:12:45
    relationship Steve Jobs famously said
  • 00:12:47
    that together we saved two companies and
  • 00:12:49
    I think that might be true in some ways
  • 00:12:51
    they also had a great relationship from
  • 00:12:54
    one Visionary to another I think this is
  • 00:12:56
    a good example of what happens sometimes
  • 00:12:58
    when you go all in to not half ass your
  • 00:13:00
    way through life but instead when you
  • 00:13:02
    see an opportunity jump what is unique
  • 00:13:04
    in this book is we have seen live Disney
  • 00:13:08
    become one of the most acquisitive
  • 00:13:09
    meaning they buy a lot of business
  • 00:13:11
    companies in the world watching Bob igar
  • 00:13:14
    acquire Star Wars and all of its
  • 00:13:17
    entities watching him acquire Pixar
  • 00:13:20
    Steve Jobs brilliant brainchild and
  • 00:13:22
    integrate those into Disney transform
  • 00:13:25
    the company and every single transaction
  • 00:13:27
    is documented in here so you can hear
  • 00:13:29
    about one of my favorite stories which
  • 00:13:31
    is when he goes and meets with George
  • 00:13:34
    Lucas who was the founder of Lucas film
  • 00:13:36
    AKA what owns Star Wars and Lucas was
  • 00:13:38
    like no way am I selling this not for a
  • 00:13:41
    bajillion dollars and Lucas didn't need
  • 00:13:43
    the money he had plenty of it this was
  • 00:13:45
    his baby that he didn't want to see
  • 00:13:47
    ruined now have they kind of ruined it
  • 00:13:50
    different story I do think they've
  • 00:13:51
    beaten Star Wars to death like a dead
  • 00:13:54
    horse but uh back when when Bob was
  • 00:13:57
    heading the company and running it
  • 00:13:59
    acquisition they didn't think it was
  • 00:14:00
    going to happen they were competing with
  • 00:14:01
    a bunch of other people and Disney
  • 00:14:03
    actually paid less than others they
  • 00:14:05
    recouped their money in this acquisition
  • 00:14:07
    faster than almost any acquisition
  • 00:14:09
    Disney has done I think they got a
  • 00:14:10
    raging deal and so you can learn a lot
  • 00:14:12
    about deal making from Bob Iger and the
  • 00:14:14
    way that he gets deals done is really
  • 00:14:16
    interesting because I think he goes and
  • 00:14:17
    he learns the psyche of the person that
  • 00:14:19
    he wants something from he spent a ton
  • 00:14:21
    of time getting to know Steve Job so
  • 00:14:23
    much so that he was invited to his
  • 00:14:25
    funeral to speak and they would say I
  • 00:14:28
    love you to each other he got to know
  • 00:14:30
    George Lucas so well that he would go to
  • 00:14:32
    his house and go on walks with him and
  • 00:14:34
    so when he put together a transaction
  • 00:14:35
    for them he knew what they wanted he
  • 00:14:37
    didn't just sell what he wanted
  • 00:14:39
    brilliant strategy some of my favorite
  • 00:14:41
    quotes for him ask the questions you
  • 00:14:42
    need to ask admit without apology what
  • 00:14:45
    you don't understand and do the work to
  • 00:14:47
    learn what you need to learn as quickly
  • 00:14:48
    as possible true Authority comes from
  • 00:14:51
    knowing who you are and not pretending
  • 00:14:52
    to be anything else I think we've all
  • 00:14:54
    felt that moment where we're somewhere
  • 00:14:55
    we don't ask the question because we're
  • 00:14:57
    scared we want to look smart he said
  • 00:14:59
    said me asking a question has nothing to
  • 00:15:02
    do with my intelligence level it
  • 00:15:04
    actually shows I'm more intelligent
  • 00:15:05
    realizing an area where I might not know
  • 00:15:07
    everything one of the other things that
  • 00:15:09
    I love is he talks about Innovation
  • 00:15:11
    which they did a lot of on Disney and
  • 00:15:13
    says the path to Innovation begins with
  • 00:15:14
    curiosity innovate or die and there is
  • 00:15:17
    no innovation if you operate out of fear
  • 00:15:20
    of the new or untested in this day and
  • 00:15:22
    age a lot of us operate from fear and he
  • 00:15:24
    wouldn't and lastly some of this when we
  • 00:15:27
    have people like Bob Iger I think maybe
  • 00:15:29
    they're trying to portray something you
  • 00:15:32
    know when he put out this book I think
  • 00:15:33
    he was going to do a presidential run
  • 00:15:34
    that's just my take and so sometimes I
  • 00:15:36
    think they're trying to portray
  • 00:15:37
    themselves one way or another but then
  • 00:15:39
    he has a line like this don't be in the
  • 00:15:41
    business of playing it safe be brutal
  • 00:15:44
    and be final and I think that's true
  • 00:15:46
    don't play safe sometimes you do have to
  • 00:15:48
    be brutal my biggest takeaway from this
  • 00:15:49
    book is Big swings you know Home Depot
  • 00:15:52
    is kind of a series of small moves
  • 00:15:54
    perfectly executed continuously Bob Iger
  • 00:15:57
    is like go eat the whole at once and I
  • 00:16:00
    think it's good to see the two all right
  • 00:16:01
    next we've got Steve Jobs by Walter
  • 00:16:03
    isacson I don't even have to look it's
  • 00:16:05
    this giant book this one is long but
  • 00:16:08
    think about what Steve Jobs has done
  • 00:16:11
    this book is based on over 40 interviews
  • 00:16:13
    with jobs conducted over two years as
  • 00:16:15
    well as interviews with more than a
  • 00:16:17
    hundred family members friends
  • 00:16:19
    adversaries competitors and colleagues
  • 00:16:21
    famously Steve Jobs read in said it
  • 00:16:23
    sounds kind of true and yet I remember
  • 00:16:25
    many things in another way why should
  • 00:16:26
    you read it because he's one of the
  • 00:16:28
    brilliant vision Aries of our time if
  • 00:16:30
    not all time in the modern age I think
  • 00:16:33
    if you want to be exceptional it's much
  • 00:16:35
    easier to mimic somebody that you
  • 00:16:37
    already know is exceptional when it
  • 00:16:38
    comes to Steve Jobs there's so much to
  • 00:16:41
    learn besides the little 30 second
  • 00:16:43
    quotes that we get from for instance one
  • 00:16:46
    of my favorite stories which was about
  • 00:16:48
    the 1984 commercial if you guys have
  • 00:16:50
    never seen it here's a snippet on
  • 00:16:53
    January 24th Apple computer will
  • 00:16:55
    introduce Macintosh so in this
  • 00:16:58
    commercial this was revolutionary for
  • 00:17:00
    its time we're not even going to talk
  • 00:17:01
    about the technology we're going to sell
  • 00:17:03
    a feeling and we're going to sell a
  • 00:17:04
    Persona if you owned an Apple product
  • 00:17:07
    you would feel like this and here is our
  • 00:17:10
    enemy that we all stand against and that
  • 00:17:12
    was 1984 brilliant and then he did that
  • 00:17:14
    again with this other AD comparing Dell
  • 00:17:17
    and Appo one of my other favorite
  • 00:17:19
    stories from this book is about the
  • 00:17:22
    detail of Steve Jobs he was a
  • 00:17:25
    perfectionist with a true belief that
  • 00:17:26
    how you do anything is how you do
  • 00:17:27
    everything and there is one point well
  • 00:17:29
    there's two points let me tell you the
  • 00:17:30
    first one so when they're working on the
  • 00:17:32
    first prototype of the iPhone he
  • 00:17:34
    insisted the iPhone screen should be
  • 00:17:36
    made out of glass rather than plastic
  • 00:17:38
    but the engineers like no no no that's
  • 00:17:39
    way too hard so jobs told them I don't
  • 00:17:42
    care we do hard things and he told them
  • 00:17:44
    that people will carry their phones in
  • 00:17:45
    their pockets alongside their keys so it
  • 00:17:48
    needs to be scratch resistant we all
  • 00:17:49
    know that he's like I want a glass
  • 00:17:51
    screen I want it perfect in six weeks to
  • 00:17:53
    pull out this point jobs takes the
  • 00:17:56
    iPhone prototype scratches it with his
  • 00:18:00
    keys and says I don't know how we're
  • 00:18:02
    going to do it but we're going to do it
  • 00:18:03
    a crazy thing is he had something that
  • 00:18:05
    people called at the time the reality
  • 00:18:07
    Distortion field where when you were in
  • 00:18:09
    Steve Jobs proximity you felt like you
  • 00:18:12
    could achieve that Elon Musk has
  • 00:18:14
    something very similar where he says in
  • 00:18:16
    6 weeks we will do this and people go
  • 00:18:18
    okay we believe you and thus we're going
  • 00:18:20
    to do it and so lo and behold thanks to
  • 00:18:23
    him we have glass that's scratch
  • 00:18:25
    resistant today on our iPhones when
  • 00:18:28
    everybody told him that they couldn't
  • 00:18:29
    one of my favorite other stories is he
  • 00:18:31
    couldn't figure out how to get all of
  • 00:18:33
    his Engineers to feel like every part of
  • 00:18:36
    the computer the first MacBook was
  • 00:18:39
    theirs like they had ownership in it so
  • 00:18:42
    he was thinking about this problem and
  • 00:18:43
    thinking about this problem what he
  • 00:18:44
    finally did is he took the inside of a
  • 00:18:47
    plate inside of the MacBook and he had
  • 00:18:49
    the engineers sign the plate so even
  • 00:18:52
    though no customers could see it every
  • 00:18:54
    single engineer's name was signed inside
  • 00:18:56
    of the MacBook they owned a piece of it
  • 00:18:59
    their names would be etched forever
  • 00:19:00
    inside of this piece of Hardware he knew
  • 00:19:03
    that no one would ever see the detail
  • 00:19:05
    that they had but they knew it too and
  • 00:19:07
    that's another way to project that
  • 00:19:09
    reality Distortion field now what I
  • 00:19:11
    think is unique here is that jobs knew
  • 00:19:14
    the truth which is if you want to go
  • 00:19:16
    fast go alone if you want to go far go
  • 00:19:19
    together and that in fact you really
  • 00:19:21
    cannot create anything if you're just
  • 00:19:23
    going to be an individual human he
  • 00:19:25
    probably wanted to be an individual
  • 00:19:27
    contributor he was known for Tantrums
  • 00:19:29
    screaming at people crying High
  • 00:19:32
    emotionality being unnerved losing
  • 00:19:36
    himself in one project for weeks at a
  • 00:19:38
    time failing he was a highly highly
  • 00:19:40
    flawed individual and you can look up
  • 00:19:43
    his family life and his kids to continue
  • 00:19:46
    that point and yet he was wildly
  • 00:19:48
    successful and so sometimes I think
  • 00:19:50
    reading a book like this it shows yes
  • 00:19:53
    he's crazy yes he still won and he did
  • 00:19:55
    it his way which probably means that you
  • 00:19:57
    can too he notoriously in his house had
  • 00:20:01
    a beautiful home in California and like
  • 00:20:03
    one piece of furniture which was one
  • 00:20:05
    couch that he thought was perfectly
  • 00:20:06
    designed because he refused to put one
  • 00:20:08
    thing in his house that he didn't think
  • 00:20:10
    was aesthetically perfect and so for all
  • 00:20:13
    you OCD Steve Jobs might
  • 00:20:16
    be your guy Steve Jobs also did one
  • 00:20:19
    other thing really really well that's in
  • 00:20:20
    this book what does your to-do list
  • 00:20:21
    looks like it looks like 100 items and
  • 00:20:23
    you need to do all of them at his
  • 00:20:25
    Retreats he would tell Executives you
  • 00:20:27
    only get three you only get three you
  • 00:20:29
    only get three and so he would skim down
  • 00:20:32
    the list to say we must have a list of
  • 00:20:35
    things we will not work on in order to
  • 00:20:36
    work on the big things and I think that
  • 00:20:38
    was huge what are my favorite quotes you
  • 00:20:40
    cannot talk about Steve Jobs without The
  • 00:20:42
    Crazy Ones he has a line I love called
  • 00:20:45
    here's are The Crazy Ones The Misfits
  • 00:20:47
    the Rebels the troublemakers the round
  • 00:20:49
    pegs in the square holes the ones who
  • 00:20:51
    think differently this was one of the
  • 00:20:54
    overarching uh beliefs at Apple which is
  • 00:20:56
    where think differently came from he
  • 00:20:58
    talks about deciding what not to do is
  • 00:21:00
    just as important as deciding what to do
  • 00:21:02
    going back to that 103 list and and then
  • 00:21:05
    talking about the little handwriting
  • 00:21:08
    inside of the computer he says I want it
  • 00:21:10
    to be as beautiful as possible even if
  • 00:21:12
    it's inside the Box a great Carpenter
  • 00:21:15
    isn't going to use lousy wood for the
  • 00:21:16
    back of a cabinet even though no one's
  • 00:21:19
    going to see it this goes back to that
  • 00:21:20
    Perfection and unseen details this one
  • 00:21:23
    is a reason why you should continue
  • 00:21:24
    watching this video all the way through
  • 00:21:27
    think about this for a second one way to
  • 00:21:29
    remember who you are is to remember who
  • 00:21:31
    your heroes are so sometimes when you're
  • 00:21:33
    lost or when I'm lost I go what would
  • 00:21:36
    the person who I think most highly of do
  • 00:21:38
    in this moment and even when I don't
  • 00:21:39
    know the answer I turn to what I think
  • 00:21:41
    the answer might be from them and that
  • 00:21:43
    helps me many times so if you're going
  • 00:21:44
    to take actions away from this book and
  • 00:21:47
    from Steve Jobs it should probably be
  • 00:21:49
    this It Go all in send it your
  • 00:21:54
    difference is the thing that makes you
  • 00:21:55
    unique in this world never forget that
  • 00:21:58
    never apologize for it and even though
  • 00:22:00
    you are flawed it doesn't mean you can't
  • 00:22:02
    be exceptional okay let me sneak in a
  • 00:22:04
    book this one this is buy Yours Truly
  • 00:22:07
    does that name look familiar this book
  • 00:22:09
    is tactical advice on how to buy your
  • 00:22:12
    first business or your third or your
  • 00:22:14
    fifth business and why today in this
  • 00:22:15
    world around us I think it is the key to
  • 00:22:17
    ownership for everyone and it might even
  • 00:22:20
    be the key to saving this country and
  • 00:22:21
    our communities taking our communities
  • 00:22:24
    back from the big guys while I love
  • 00:22:26
    talking about billionaires I don't think
  • 00:22:28
    they should own everything I think you
  • 00:22:30
    guys should so if you haven't
  • 00:22:31
    pre-ordered the book go to MSM book.com
  • 00:22:34
    and pre-order or the link below cuz I
  • 00:22:36
    think we should take back a little bit
  • 00:22:37
    of ownership in this country and I want
  • 00:22:39
    you guys to be the next round of
  • 00:22:40
    billionaires and actually help pull
  • 00:22:42
    people up as opposed to gatekeep which
  • 00:22:44
    is why we do everything we do on YouTube
  • 00:22:47
    more of you that own instead of the few
  • 00:22:50
    who own everything and we have to ask
  • 00:22:52
    permission for it MSM book.com I spent 3
  • 00:22:54
    years on it you're not going to regret
  • 00:22:56
    it the next book Elon Musk by Walter
  • 00:22:58
    isacon the man who needs no introduction
  • 00:23:01
    what's interesting though is Walter
  • 00:23:02
    isacson wrote both of these books and he
  • 00:23:06
    did two years of research on musk same
  • 00:23:08
    thing hundreds of interviews for people
  • 00:23:10
    who hated him loved him family friends
  • 00:23:12
    workers colleagues competitors and so
  • 00:23:14
    it's this very nuanced biography of one
  • 00:23:16
    of I think the most controversial
  • 00:23:19
    misunderstood and Brilliant Minds of our
  • 00:23:22
    time why would I read this book I would
  • 00:23:24
    listen to this book again so my book
  • 00:23:26
    Main Street millionaire you should get
  • 00:23:27
    it in hard C and have it delivered to
  • 00:23:29
    you cuz you're going to want to
  • 00:23:30
    highlight it write down specific tactics
  • 00:23:32
    and take action on it almost like a
  • 00:23:33
    workbook these two books you don't need
  • 00:23:35
    to read in my opinion you can listen to
  • 00:23:38
    them you can listen to them again and
  • 00:23:39
    again and again but on audiobook because
  • 00:23:42
    you're not trying to take a tactic that
  • 00:23:44
    Steve Jobs used you're trying to change
  • 00:23:46
    your mindset and then you can take a
  • 00:23:48
    tactic from my book all right one of my
  • 00:23:50
    favorite stories about Elon Musk God
  • 00:23:53
    where do we start can we just start with
  • 00:23:55
    this one which is what Elon Musk says to
  • 00:23:58
    advertisers who won't advertise on
  • 00:24:00
    Twitter go
  • 00:24:03
    yourself one of my favorite stories
  • 00:24:05
    about Elon Musk is starting at the
  • 00:24:07
    beginning so a lot of people know him
  • 00:24:08
    today as this Titan of industry but the
  • 00:24:11
    cool part about the biography is it
  • 00:24:13
    takes you back to being a young kid from
  • 00:24:15
    South Africa and what that was like
  • 00:24:17
    flying in Planes living wild and it sort
  • 00:24:20
    of explains why today he's a hard man to
  • 00:24:23
    tell what to do also learning a little
  • 00:24:25
    bit about his family and how they think
  • 00:24:27
    about the world and his father who
  • 00:24:28
    fathered multiple kids too gave me a
  • 00:24:30
    perspective of the humans behind the man
  • 00:24:33
    and one of the themes you're going to
  • 00:24:35
    see in this series is yes I do think
  • 00:24:37
    that Elon Musk is a genius but I also
  • 00:24:40
    think that he is flawed and so watching
  • 00:24:43
    him in some of those early interactions
  • 00:24:45
    was really useful I also think it's
  • 00:24:46
    interesting to look at some of his
  • 00:24:47
    family life you know he's obviously had
  • 00:24:50
    a few wives he has many children he's
  • 00:24:53
    had one wife Grimes who I believe he's
  • 00:24:55
    been married to twice div force from
  • 00:24:59
    twice married to three times a worce
  • 00:25:01
    from twice I can't keep it straight the
  • 00:25:03
    the point of it all is sometimes we got
  • 00:25:04
    to be reasonable about the fact that
  • 00:25:06
    just because somebody is successful in
  • 00:25:08
    one area of life doesn't mean they're
  • 00:25:10
    successful in all of them Elon Musk is
  • 00:25:12
    definitely not successful in all areas
  • 00:25:15
    and guess what sometimes that's what it
  • 00:25:17
    takes so let's be honest about what it
  • 00:25:18
    takes to be a billionaire this book
  • 00:25:20
    really shows you that what is unique
  • 00:25:22
    from this book well if you haven't heard
  • 00:25:24
    of first principles thinking musk's
  • 00:25:27
    approach to business breaks this down
  • 00:25:29
    it's this idea of break the complex
  • 00:25:31
    issues down into their fundamental
  • 00:25:33
    truths and build them up from there this
  • 00:25:35
    allows you to go I want to build a
  • 00:25:37
    billion doll company that's really hard
  • 00:25:39
    that's really complex where would I
  • 00:25:40
    start with today in order to build on it
  • 00:25:42
    and so sometimes you struggle with
  • 00:25:44
    matching your actions to your big goals
  • 00:25:46
    this book is useful for that I also like
  • 00:25:48
    musk because he is known for extreme
  • 00:25:50
    ownership which means he will say when
  • 00:25:53
    he has been wrong and he also mandates
  • 00:25:55
    other people do as well I think this is
  • 00:25:57
    critical the billionaires that I've
  • 00:25:59
    engaged with they never allow themselves
  • 00:26:02
    to be labeled a victim by another I
  • 00:26:04
    think you should make sure to do the
  • 00:26:05
    same my favorite quote o there's a lot I
  • 00:26:09
    like this one I think it's possible for
  • 00:26:10
    ordinary people to choose to be
  • 00:26:12
    extraordinary isn't that kind of free
  • 00:26:14
    when something is important enough you
  • 00:26:16
    do it even if the odds are not in your
  • 00:26:18
    favor you know that famous line people
  • 00:26:19
    say where what would you do if you know
  • 00:26:20
    you couldn't fail you guys have heard
  • 00:26:22
    that before I think it's actually the
  • 00:26:23
    opposite what would you do even if you
  • 00:26:26
    knew you were going to fail what would
  • 00:26:28
    you do no matter what and Elon Musk is a
  • 00:26:31
    testament to that the last one is this
  • 00:26:33
    one I'm not trying to be anyone's savior
  • 00:26:36
    I'm just trying to think about the
  • 00:26:37
    future and not be sad and the reason I
  • 00:26:39
    like that is that saviors well they also
  • 00:26:42
    often become Martyrs and so Elon Musk is
  • 00:26:46
    saying I'm not trying to be perfect I'm
  • 00:26:48
    just trying to change the world in a
  • 00:26:50
    forward-looking way that I think it is
  • 00:26:51
    better for and I think that's important
  • 00:26:54
    for all of us the biggest takeaway that
  • 00:26:56
    I take from this book is is that we all
  • 00:26:59
    are more uniquely capable than we think
  • 00:27:01
    we are but the world tries to tell us
  • 00:27:03
    not to be the world will beat you down
  • 00:27:05
    again and again and again and that's
  • 00:27:06
    probably how you know you're on the
  • 00:27:07
    right path because you're pushing a
  • 00:27:09
    little bit past that comfort zone and
  • 00:27:11
    watching him do these huge things
  • 00:27:13
    inspires me to go yeah I could probably
  • 00:27:15
    do this smaller thing because he's no
  • 00:27:18
    more human than I am the next book I
  • 00:27:20
    love this book Sam Walton made in
  • 00:27:22
    America I just relistened to it for the
  • 00:27:23
    second or third time it's about the
  • 00:27:25
    founder of Walmart Sam Walton and his
  • 00:27:27
    story of how to build Walmart now hold
  • 00:27:29
    your phone I know a lot of people don't
  • 00:27:31
    love Walmart it's not my favorite place
  • 00:27:32
    to go shop today either I don't read
  • 00:27:34
    this book cuz I want to recreate Walmart
  • 00:27:35
    I read this book because Walmart is a
  • 00:27:37
    $500 billion doll a year company that I
  • 00:27:40
    want to learn how to build something so
  • 00:27:43
    lasting such as that why do you read it
  • 00:27:46
    because it's about a man who never
  • 00:27:49
    sought the limeline in fact one of my
  • 00:27:50
    favorite stories in the book is Sam
  • 00:27:52
    Walton was quiet he never did PR tours
  • 00:27:56
    he never did interviews he just built
  • 00:27:58
    the business for decades and decades
  • 00:28:00
    until finally somehow somebody put him
  • 00:28:01
    on the Forbes 100 list as one of the
  • 00:28:04
    richest if not the richest man in the
  • 00:28:05
    world I think it was the richest man in
  • 00:28:06
    the world and all of a sudden all of
  • 00:28:08
    these reporters descend on his Tiny Town
  • 00:28:11
    in Arkansas and they start trying to
  • 00:28:14
    interview his friends his family
  • 00:28:15
    everything about them and unlike most
  • 00:28:18
    people today who crave the internet me
  • 00:28:20
    in some ways he's pissed he's like I
  • 00:28:23
    don't want to talk to all of these
  • 00:28:24
    people I'm just trying to build
  • 00:28:25
    something lasting because I want to and
  • 00:28:28
    I thought that was really refreshing in
  • 00:28:30
    this day and age one of the other
  • 00:28:31
    stories I love he talks about what I'll
  • 00:28:34
    call uh checking for dust across his
  • 00:28:36
    business Sam was known actually for
  • 00:28:40
    never being on time to meetings randomly
  • 00:28:42
    canceling meetings and almost being
  • 00:28:44
    impossible to schedule with which kind
  • 00:28:46
    of makes me feel better because I'm that
  • 00:28:48
    way I don't know if you guys are like
  • 00:28:49
    I'm late a lot I'm all over the place I
  • 00:28:52
    kind of jump here and there my mind goes
  • 00:28:54
    in fractured manners and Sam was the
  • 00:28:56
    same but he said the key to running a
  • 00:28:58
    business even as big as Walmart is that
  • 00:29:00
    he would just go and check on things all
  • 00:29:02
    the time he was Notorious for having
  • 00:29:03
    these old kind of beat up planes not
  • 00:29:06
    like a fancy private jet we're talking
  • 00:29:08
    two propped planes I get it still
  • 00:29:10
    expensive but this guy's a billionaire
  • 00:29:12
    and he would go and fly around all the
  • 00:29:14
    stores they say to this day nobody has
  • 00:29:17
    visited more retail stores than Sam
  • 00:29:19
    Walton and he was known for when he went
  • 00:29:22
    there he would go immediately and talk
  • 00:29:24
    to the associates and ask them what they
  • 00:29:26
    thought not the management not the heads
  • 00:29:28
    not the executives he'd go up to the
  • 00:29:30
    front person and he'd say how's this
  • 00:29:32
    business doing what's going on what do
  • 00:29:34
    you think what should we be changing he
  • 00:29:35
    was just looking for dust all around his
  • 00:29:37
    business and that is usually what CEOs
  • 00:29:39
    do what is unique in this business if I
  • 00:29:43
    had to pick three things from Walmart
  • 00:29:45
    that I want to replicate it was one
  • 00:29:47
    obsessed with your customer he has a
  • 00:29:49
    quote that I'll share later about it but
  • 00:29:52
    uh okay let's share it right now the
  • 00:29:54
    quote is there's only one person who can
  • 00:29:56
    fire anyone all the way up to the boss
  • 00:29:58
    at any time and that is the customer and
  • 00:30:00
    he was right he was obsessed with the
  • 00:30:02
    customer in every way shape and form and
  • 00:30:04
    if you want to build a company you
  • 00:30:06
    should be too the second thing is cost
  • 00:30:09
    conscious so famously Sam wolton would
  • 00:30:12
    share a hotel room nobody called the HR
  • 00:30:15
    these day day and age with his other
  • 00:30:17
    Executives every time they traveled and
  • 00:30:19
    they weren't staying at the Ritz or the
  • 00:30:20
    Four Seasons they were staying at like a
  • 00:30:22
    Motel 6 with all of them together I try
  • 00:30:24
    to do that in my company like for
  • 00:30:26
    instance we're flying to LA
  • 00:30:28
    tomorrow and uh you know kind of old
  • 00:30:32
    Cody might have just gone and stayed at
  • 00:30:33
    the Four Seasons or the Ritz or a fancy
  • 00:30:35
    place but we're all going to stay in an
  • 00:30:36
    Airbnb together and I want to make sure
  • 00:30:38
    that we know at this company that I am
  • 00:30:40
    just as CC conscious as everybody else I
  • 00:30:42
    am not flying private all the time we're
  • 00:30:44
    flying on Southwest to to Las Vegas
  • 00:30:46
    today and I mean I'm not looking for
  • 00:30:48
    virtue signaling to say that's so great
  • 00:30:50
    and you know I'm doing anything special
  • 00:30:53
    but these days everybody's flexing their
  • 00:30:54
    Lambo their Rari their private plane and
  • 00:30:57
    yet the billionaires they pay attention
  • 00:30:59
    to the pennies and so I want to remember
  • 00:31:01
    that and I think you should too Sam
  • 00:31:03
    Walton knew his competitors he was
  • 00:31:05
    famous for going to other people's
  • 00:31:07
    stores he had this little recorder like
  • 00:31:09
    a tape recorder cuz he's old and now
  • 00:31:11
    he's dead I think anyway he's definitely
  • 00:31:12
    dead he's old and dead so he had this
  • 00:31:14
    little tape recorder and he would take
  • 00:31:15
    it around to all the stores and he would
  • 00:31:17
    record his thoughts like well they're
  • 00:31:19
    selling W watermelons here for 39 cents
  • 00:31:21
    we've got them for 54 they've got the
  • 00:31:23
    books up front which is smart as opposed
  • 00:31:26
    to the videotapes in the back you know
  • 00:31:27
    we've got gum up front and that's
  • 00:31:29
    actually a great markup their price is
  • 00:31:31
    too high we could go lower so he would
  • 00:31:32
    go around all of his competitors and
  • 00:31:35
    record what they were doing he was
  • 00:31:36
    famous for saying that his best ideas
  • 00:31:39
    came from everybody else he would just
  • 00:31:40
    make them a little bit better cheaper
  • 00:31:42
    and more customer Centric some of my
  • 00:31:43
    other favorite quotes are great ideas
  • 00:31:45
    come from everywhere if you just listen
  • 00:31:47
    and look for them you never know who's
  • 00:31:48
    going to have a good idea so he was
  • 00:31:50
    relentless about saying he'd be in a
  • 00:31:51
    conversation chatting with you and then
  • 00:31:53
    he'd be like hold that for a second then
  • 00:31:54
    he'd go on his voice recorder and he'd
  • 00:31:56
    record his little idea I love this so I
  • 00:31:58
    carry a tiny notebook everywhere to do
  • 00:32:00
    the same thing he has this line every
  • 00:32:02
    time Walmart spends $1 foolishly it
  • 00:32:05
    comes right out of our customers Pockets
  • 00:32:07
    every time we save them a dollar that
  • 00:32:08
    puts us one more step ahead of the
  • 00:32:10
    competition which is where we always
  • 00:32:11
    plan to be and I think that's true the
  • 00:32:13
    last one I'd edit on for him is high
  • 00:32:16
    expectations are the key to everything
  • 00:32:17
    I've struggled with this in my business
  • 00:32:19
    again and again the idea of telling the
  • 00:32:21
    people that we are on a bigger Mission
  • 00:32:24
    and that every time you submit some
  • 00:32:25
    piece of work I want you to be so proud
  • 00:32:28
    of what you've created that you want to
  • 00:32:30
    show it off and if you don't don't ship
  • 00:32:32
    the product yet but you should have this
  • 00:32:34
    belief and pride in what you do how do I
  • 00:32:37
    apply this to my life I make sure that
  • 00:32:39
    in my
  • 00:32:40
    businesses we all know three things
  • 00:32:43
    employees first because without happy
  • 00:32:45
    employees you can't have the second most
  • 00:32:47
    important thing which is customers first
  • 00:32:49
    and the third most important thing which
  • 00:32:50
    is that we are so proud of what we do
  • 00:32:53
    that when we send it we would be okay if
  • 00:32:55
    it was going to the person we look up to
  • 00:32:57
    more than anything in the world and I
  • 00:32:58
    think Sam Walton did that next we got am
  • 00:33:01
    I being too subtle oh I love this orange
  • 00:33:04
    book this is by Sam zel Sam zel was a
  • 00:33:06
    self-made billionaire he has a crazy
  • 00:33:08
    nickname which was the grave dancer and
  • 00:33:10
    he was famous for taking old beat up
  • 00:33:13
    companies real estate Etc pulling them
  • 00:33:16
    from the grave so they were struggling
  • 00:33:17
    going to die maybe already had died in
  • 00:33:19
    bankruptcy and revitalizing them he
  • 00:33:21
    would buy companies for pennies on the
  • 00:33:22
    dollar he was a Relentless businessman I
  • 00:33:25
    like to listen to him cuz I'm an
  • 00:33:27
    investor I like to take my money and
  • 00:33:28
    make more money maybe you guys are the
  • 00:33:30
    same he is one of the best of all time
  • 00:33:32
    to do that so if you want your money to
  • 00:33:34
    make more money you should listen to
  • 00:33:35
    this book one of The my favorite stories
  • 00:33:38
    about uh Sam zel is he was known for
  • 00:33:40
    being really eccentric so Sam zel look
  • 00:33:43
    at this guy drove a motorcycle and had
  • 00:33:46
    uh Leathers made for all of his
  • 00:33:48
    Executives that said zel's Angels which
  • 00:33:51
    just kills me and so you got this old
  • 00:33:53
    billionaire driving around on
  • 00:33:55
    motorcycles because he did not care what
  • 00:33:57
    any body thinks one of my second
  • 00:33:59
    favorite stories from Zam zel is he
  • 00:34:00
    famously had one of his associates come
  • 00:34:02
    into his office they're going to do a
  • 00:34:03
    deal and the guy brings this big huge
  • 00:34:05
    binder worth of stuff and puts it on
  • 00:34:07
    Sam's desk and is like I think we should
  • 00:34:09
    do this deal Sam says can you explain it
  • 00:34:11
    to me you know in like 3 minutes so he
  • 00:34:13
    explains the deal to Sam in 3 minutes
  • 00:34:15
    and Sam says we should do the deal and
  • 00:34:17
    the idea was this that if you can't
  • 00:34:19
    explain your deal your investment in 3
  • 00:34:22
    minutes concisely and convince somebody
  • 00:34:25
    a fat binder doesn't matter but
  • 00:34:27
    sometimes the only only way to get
  • 00:34:29
    somebody to convince to doing a deal in
  • 00:34:30
    3 minutes is to do all the work in that
  • 00:34:32
    fat binder and so he was sort of famous
  • 00:34:34
    for this idea of complexity makes you
  • 00:34:36
    look smart Simplicity makes you money
  • 00:34:38
    now what is unique from this book he is
  • 00:34:41
    the master at leverage he was sort of
  • 00:34:43
    one of the first people to to create
  • 00:34:45
    real estate levered investments called
  • 00:34:48
    REITs Real Estate Investment Trust and
  • 00:34:50
    that was compiling a bunch of real
  • 00:34:52
    estate together to grow it I think
  • 00:34:54
    what's also unique is Sam's had a bunch
  • 00:34:55
    of really big failures in the
  • 00:34:57
    news when this guy died I think it was
  • 00:35:00
    the Chicago Tribune excuse me if it
  • 00:35:01
    wasn't some Chicago newspaper cuz that's
  • 00:35:03
    where he was from had the headline say
  • 00:35:06
    failed media Tycoon Sam zel dies that's
  • 00:35:10
    because he bought one newspaper and the
  • 00:35:11
    newspaper didn't make it by the way I
  • 00:35:14
    don't think you're a failure if you
  • 00:35:15
    build a billion dollar multi multi
  • 00:35:17
    multi-billion dollar company you become
  • 00:35:19
    a billionaire you have a very successful
  • 00:35:21
    family and you have hundreds of
  • 00:35:22
    successful ideas and businesses so shame
  • 00:35:24
    on them some of my favorite quotes from
  • 00:35:27
    them I am not a reckless person but
  • 00:35:29
    taking risks is the only way to achieve
  • 00:35:31
    above average returns my second favorite
  • 00:35:34
    one is if you ain't the lead dog the
  • 00:35:37
    scenery never changes and then lastly
  • 00:35:39
    you just build up a tolerance for
  • 00:35:41
    rejection you learn to keep asking and
  • 00:35:43
    find ways to get a keep a conversation
  • 00:35:45
    going a no is just a beginning of a
  • 00:35:48
    conversation so if you're struggling and
  • 00:35:49
    you don't know where to go next you
  • 00:35:51
    might want to go with Zam okay I want to
  • 00:35:53
    close out with that the truth of the
  • 00:35:56
    matter is if you want want to become a
  • 00:35:58
    billionaire what's the fastest way to do
  • 00:35:59
    it read books by billionaire so what am
  • 00:36:01
    I going to do for you guys I'm going to
  • 00:36:02
    give away all these books and multiple
  • 00:36:04
    copies of them how am I going to do it I
  • 00:36:06
    want you to tag me on Instagram @ Cody
  • 00:36:08
    Sanchez with a picture of you watching
  • 00:36:10
    this YouTube video you can also tell me
  • 00:36:12
    which book you prefer you can let me
  • 00:36:13
    surprise you I'll write you a little
  • 00:36:15
    note in it but make sure to tag me on
  • 00:36:17
    Instagram you can tell me in the YouTube
  • 00:36:19
    comments if you've done that so I can go
  • 00:36:20
    and look for you guys but I want you
  • 00:36:22
    guys to become billionaires so I'm going
  • 00:36:23
    to shoot you a bunch of these make sure
  • 00:36:25
    also MSM book.com little pre-order baby
  • 00:36:28
    I'm going to do cool stuff for you later
  • 00:36:30
    until next week thank you guys for being
  • 00:36:31
    the few who do
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