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Patience And Discipline - Virtues To Grow Your Business Successfully

I'm a fan of animals in their natural habitat. I'm not really a fan of like them at my house or zoos but yeah, and I remember, I was in the amazon. I stayed with these tribes. This tribe called the matisse and these guys were former cannibals and I hung out in the jungle with them for a while and I remember watching this like and by the way, when you're with native people in their in the jungle settings, like an activity like watching a wild animal appear is like, that's it. That's all that's going on for the day like, they will sit and they will just watch all day long this happening and I remember watching this like, beautiful black jaguar which is you think happens all the time in the jungle, it's rare. 

I was there for months and you know really I think two times we saw a jaguar and it was for seconds and we saw this cat come and you think okay, what makes this cat an effective predator. What makes this cat a useful creature and so you're watching it and it would wait forever. It would sit back you see these like bright yellow eyes like just through these like leaves and it would just be patient. And you realize this is a cat that could probably jump like 40 feet in the air and like pop trees and gates and do all kinds of stuff but ultimately it's the fact that it's a stalker. The fact that it's got patience is the reason why it's effective. And if you want to be effective in business and life in any of these things, you want to become what Carlos Castaneda, the great author author from the 1960s 70s and 80s would say. 

Mastery Is Achieved Through Deliberate Practice

You have to have repetition which means that you have to create mastery on whatever that you're doing. And so people that for example, I see comedians all the time. They're just like okay man, I'm going to go to an open mic once a week. But they never rehearse in between there, so they're getting like four minutes of rehearsal every week like, if you add that up that's you know, an hour rehearsal year. Seth Meyers went to Amsterdam and he had two hours or three hours a night for two years in a row. So what Malcolm Gladwell says, is when you get like five to.. 

I think it's five thousand hours, is that what he said. Five thousand of ten times in person repetition. Is that right? Ten thousand hours. Ten thousand hours, okay, yeah yeah ten thousand hours. I was like, how do you do that? I mean you got to start as as a hockey player when you're like five to get those 10000 hours. Yeah, I look back at my career and I've had about 4000 hours on radio, television and stage all combined in my 30 years of professional experience, right? 

Strive For Self-Improvement To Move Ahead In Life

It's amazing when it comes to things like books or audio books or programs you know, like, I've got my book there. I spent years writing, years living writing and perfecting that and you can buy it for like 20 bucks, right or you can buy Tony Robbins book for 20 bucks, 15 bucks or 10 bucks and take away all this amazing knowledge, all this amazing information for people. But most people don't do it. Most people will spend their time just watching. They'll spend their time watching Netflix and nothing wrong with that. I like Netflix. 

I like watching HBO. I love doing all that stuff but if you don't have the personal development down, if you are not constantly working on yourself, if you are not constantly consuming information for the betterment of your human organism, you will not improve. If we do not move forward, we die and that's the thing I want people to remember. And I make this point. It's one of my favorite. One of my favorite quotes is while you are sleeping, your enemies are planning your demise and it's funny but if you look throughout history, it's true. 

Smart Strategy For Buying A Car

You know it's funny what you were talking about recession and inflation. So we've got a problem now as it stands in cars. There aren't any cars anywhere. And me and my son what we do is we love looking at exotic cars especially Porsches, and I was in the market for one, so it was like, all right let's go take a look. So we went to the dealership here in Los Angeles,  the Porsche dealership. And the guy came out, very nice a dealer that I've known for years and he said, Shaahin, I got to tell you we don't have any cars. I said, what do you mean? He's like, well, we can let you drive, you know, the latest ones. I know you like these cars. You can drive the ones that you see on our website. We just can't sell them to you. I said, what do you mean? He said, all the cars that you see here, they're sold and we don't know what's coming in September. 

So we've been offering a crazy amount of money to anybody who's got a used Porsche to bring it in and sell it to us. We would never offer these prices to customers. Most people are getting 20 30 percent more than what they paid for these cars four or five years ago now to buy. And Porsches are renowned for holding their value. They're one of the highest resell cars. It's Porsche and then BMW depending on which models you get, but very effectively you could buy a Porsche or BMW if you know how to buy correctly. Drive it for two to four years and then sell it for more than you bought it for. So we we're talking about kind of these inflationary hacks. So I think I can share one hack with you as far as cars go. That's that look at cars in your area, but buy them in small towns. And why do I say this? Okay, in L.A. you walk into the Porsche dealership like we did and we we drove the new Porsche. 

I Take on beautiful car. It's the all-electric Porsche take-on was impressive. Not as impressive as the Tesla plant. I have to say, I thought the Tesla plaid which I drove the other day was was much better and we sat in the car. I think Porsche has a little bit of work to do on their electric take on. Their other cars are spectacular and so we test drove this car. And the first hack that I realized is drive the cars where you're at, buy them in a small town. Why? Okay, in L.A. a $200,000 car, I know it sounds crazy. That's what these things are. Going for now, 150 to 200,000 cars are going for 50,000 or 100,000 over sticker. When you get to these luxury models there we had a car out front. I said, hey bud, how much is that one? 

He said 150k. I said, great. I'll take it. I love it. I got the money right now. I'll take it and he said, oh, but I can't sell to you for that much. I said, why not? He said, you know Mr. Cheyene, we getting 100 grand above, so if you want to pay 250, I can sell that to you, otherwise I can't sell it to you. So in L.A., New York, Miami $100,000 car every guy that walks in can get that or at least lease it. That's a two thousand twenty three hundred dollar a month payment to get a hundred thousand dollar car, right? And you can sleep in your mom's basement and drive a fancy car like that. 

The Four Pillars Of Foundational Success

When we're really young we think hey man I don't care about tomorrow. Let me just focus on today. Let me make my money today. Yeah, but it's not the right way of thinking. The right way of thinking is you got to build a foundation, a table with four legs is much better than a table with two. So the first leg, the first leg of your foundation should be your job or whatever you're doing maybe you're selling your hours for money and working your way out of that but it keeps your baby in diapers, it keeps food on the table, it allows you to go and live a stable life. Have stability now. If you've got a trust fund, great! That could be that first leg. If you've got a rich husband a rich wife whatever that is, that could be your first leg of your stability but you need to have that stability and for most of us we have to go out there and work and hustle. 

Selling Your Story or Products?

I think in general I'll tell you the number one problem that most entrepreneurs have and that's that they have the old way of thinking. Most entrepreneurs think to themselves dude I'm gonna Randy, I'm gonna go out there and create a better mousetrap and the world that's going to beat its way to my door and quickly they learn that in this world of social media and all these types of things that nobody gives a that you have a better mousetrap. There are lots of great products out there without any eyeballs and they don't sell any. So what do you do? 

Overcoming Adversity Through Resilience

Avoiding The Investor Accountability Trap

Yeah, distribution first is a key. One that we talked about. We had great distribution with vape here. The other one was if you can help it don't take investors. I was all excited about people wanting to invest in my company and putting money in my company and then I realized that oh dude I've got like 14. I've got to answer to now and that really was a difficult time for me and then when it came time to sell the company and have a nice exit and sell to another firm I realized that I was being held back by investors that couldn't agree. So that was another important lesson that was learned. I think those two are are kind of essential ones and the third one is I had great advice and counsel during the vapir times because I had all kinds of industry experts that came in and helped me with that technology.