1 Millionaire vs Billionaire Mindset

0:00Today's performance marketers aren't just buying clicks, they're buying performance. And today, performance takes more than Google and Facebook. That's where Realize comes in. Realize helps performance marketers tap into more ad placements across hundreds of premium websites reaching audiences you just can't find on traditional social channels. With intent-based, contextually relevant ad placements, you can drive real conversions, not just impressions, and expand your acquisition strategy with better data, more control, and higher ROI. Thousands of brands already use Realize to diversify their ad spend, boost performance, and unlock high quality traffic websites that will help you scale your business results.

0:33So if you're ready to go beyond the usual playbook and start reaching new audiences, check out discover.tabula.com slash realize-us or hit the link in the description to learn more. That's discover.tabula.com slash realize-us. Discover.tabula.com slash realize-us. All right, millionaire versus billionaire mindset, Neil. So this is interesting because I had a friend text me yesterday. So here's the text message, here's what it said. And then I think you saw it too. It says, when I talk to single digit millionaires, They say, wow, you're a special snowflakes. Congrats. So my friend, you know, this guy does like, let's say he does like 20 million a year.

1:05Okay. Revenue. So that the single digit millionaires are like, oh my God, wow, you made it. Okay. The deck of millionaires. So these are people worth tens of millions of dollars. They say, wow, sell it, bank the cash and then do it again. And then the multi hundred dollar millionaires. So these are a centimillionaires. They say, do not sell no matter what compound the business. Now, finally, the billionaires say you need to find whatever gives you a competitive advantage that gives you a monopoly in pricing power, and then you can do it forever. What do you think about that? Repeat the billionaire one again.

1:33That one's interesting. So I think it is at least. They say you need to find, the billionaires say that whatever you do, you need to find an unfair competitive advantage that gives you a monopoly in pricing power, and then you can do this forever. Google's a great example of this. Yeah. It's hard to create that though. Yeah. Microsoft, I would say, has it. I think Google has it. Who else has this? Amazon has it. Amazon has this. Apple has it. and they have powers in different ways. Facebook has it. Yeah. I think Apple has brand power, a lot of... And hardware power. Their ecosystem. Integration power.

2:06Okay. And I think when you have... Amazon has like logistical power. Like everything they built is so hard to do. Yeah. Microsoft's integrated into the corporate workforce. We're very reliant on them. Very enterprise now. Even though their products aren't always the most usable or the best, it works really well for the corporate world. Yeah. Google has really the search ecosystem. Facebook does control the majority of social media, I would say, and their ecosystem, WhatsApp, texting, communication, and they don't allow people to access their data easily. I think SpaceX really has monopolized the space.

2:4490 % of the shipments are done by them. Yeah, they do the best job too. And I'm not saying they do the best job. I'm getting that from People have tried alternatives because they don't like Elon. It doesn't work out. And then they have to come back to SpaceX. When a good product's like a good... Same thing with a Tesla's ecosystem too. Like you have the self-driving... I would say that's the biggest thing. That and the network of chargers. But I would not say the actual physical car. You don't like the car. I love the car. I miss my Tesla. Even though I like my car now. Don't get me wrong. I still miss my Tesla.

3:17This is going to be a shock to you. Guess what new car I want? A Tesla Model Y. Yes. Yeah. You told me this before. Yeah. I won't buy it though because it's just so expensive. I don't understand you. You have like seven cars and you won't buy like a mid-range. No, I have two cars. You had seven before. I don't know if I had seven, but I had a lot of cars. You had, yeah. Like sometimes things you say don't make any sense. But it's 60. I looked at it including taxes and everything. I think it was like 65-ish grand. That's a lot of money. I don't want to pay 65 grand. Yes. Okay. Sometimes we talk about it.

3:50This is the principle of spending this money. but also this money is such a drop in the bucket but my current car works your current car one is a honda odyssey and the other one's the what a bentley yeah that so you take that one out when okay there's somewhere to go but you most of the time i don't know the bentley is the wife's car i do drive it every once in a while and she didn't request a bentley i just knew she liked it so i bought it you should get the why because i've driven the why before because i used to use turo when i came back from miami to la and i would drive back to see my parents right and i would i I would drive the Y sometimes, and I liked it.

4:21And I'll tell you what. I'll give you one example before we move on here. Let's say I was in a car on the way to the airport. Guess what? The driver was driving a Model Y. He caused a car accident, so he hit the other car, and I saw the other car almost flip over, so I was in a car accident, right? The Model Y was a tank. The other car was completely damaged. But the Model Y caused the accident. Yeah, yeah, because he took it like a tank. So anyway, I'll leave it for what else, because you're not the best driver either. No, so that's why I want the Model Y because it's self-driving and it's really, at this point, their technology is really good.

4:52Yeah. And I had a Model 3 for a bit. The seats weren't comfortable. Ethan, my brother-in-law, told me I should have got the plaid version, the performance or whatever it's called. Yeah. Because he said the seats on the highest one are more comfortable than the medium to lower. I mean, at that point, you might as well get an X. I don't care for the Model X. I like the way the Model Y looks. I don't think there's a plaid for the Y version. That's why. There is. There is? They change the name. It's not Plaid. It's like Performance. Oh, then you should get it. And the seats are different. It is, let's see.

5:24I'm actually pulling this up right now. Performance instead of Premium. But funny enough, I was in Mission, Texas yesterday, which is not that close, but close enough to where SpaceX is launching, you know, launches all their rockets and stuff like that. So someone in the audience was like, I'm at Ford, you know, how do we market against all these other companies? and he's like, I'm trying to create like the digital marketing. I'm like, dude, the problem with your marketing is you guys try to make everything super professional, high cut and all this kind of stuff like where it's just done in a, not a showroom, but like in a studio, right?

5:58Where they green screen and all this kind of stuff. I'm like, it's just too over well done with drones and stuff. He's like, okay, what would you do? And I would just talk about reliability. And I'm like, for Ford? For Ford. And he's like, what do you mean? I was like, remember the tug of war where Tesla, Cybertruck did a tug of war. And there were some things that were off, like the Tesla started first, so it wasn't official. And I would be like, they may say the Tesla, the Cybertruck's stronger, but when they're in a jam, they call Ford and then show how Ford tows out the Teslas when they get stuck in the snow and all that kind of crap, because it happens.

6:33And have you seen those videos where the Ford is actually the one towing it away? I haven't. Because they're very reliable, they're stable, they work in all environments. Same with like Cybertruck. They're like, oh, this is a cool truck. I would take construction workers and have them put logs and stuff in the Model Y. And they'd be like, man, the stupid angle going down because their trunk is not, their bed is flat. But to get in there, it's angled down. It's like a triangle shape, right? And showcase how construction workers have a hard time and be like, not with the Ford. It's reliable, practical.

7:03It works. You know who does this as well? So Volvo calls themselves the safest option for luxury. And that's what they, I mean, Volvo's a tank. Like literally, I remember in high school, I'd always get into our friends Volvo and we knew whenever we got it, we'd feel like we're unstoppable. Yes. And so, but going back to this millionaire versus billionaire mindset thing, I think you want to have a centimillionaire or a billionaire mindset because that's, at that point, you understand that the move is just keep going. That's the move, right? Because yesterday I was talking to a$100 million CEO. So they do about$100 million a year, okay?

7:34Let's just say he's in the marketing business. and you know, one thing we talked about was like, you know, when we're younger, it's like, oh, you want to hit a number. Maybe you want to hit a hundred million, then you want to hit a billion or whatever. And then you get a little older, you're like, no, now maybe it's a little different for you. But at least for him and I, I'm just like, I just want to keep going for a long time and then see how far I can take it. You know, it's no longer about hitting a number, but the billionaire thing is like, that's when you're going for like monopoly, right?

7:59It's like, because that's when you can control pricing power and that pricing power allows you to acquire the companies that you want and do all of the things that you want and have true control, right? So my whole thing is, I think it's better to have a centimillionaire or a billionaire mindset. What about you? I agree. You could have sold. You didn't. Yeah. You could have done the decamillionaire thing. What's a decamillionaire? Decamillionaire is like tens of millions of dollars. The, the, well, when we had the option to sell, we were past the decamillionaire. Yeah, it was past, yeah. and the problem that I had for selling had nothing to do with economics because if I go back in time hindsight I should have taken the offers if you want to look at it from a pure financial arbitrage standpoint all right I could have sold it all put it in the stock market I would have made a killing the agencies not not just my agency the whole agency landscape have gotten crushed from a multiple perspective and they got crushed from a growth perspective in the last few years you agree with the statement, right?

9:00Yes. But I think 10 years ago, you would have done the deal right now. I think you, you, you have a longer term mindset on it, which is, which we got on the phone and we talked about this. Yeah. Go ahead. The, a lot of the mindset has to do now with 10 years ago, I had less money than I have now. Yeah. Now you were much more money focused 10 years ago. I was now my problem is even though more family focus work is a passion. It gives me purpose in life i don't want to get rid of the purpose yeah and it's identity it's not because the company's name np digital after me that is one aspect i love for that but even if it wasn't i just love having the company and a company of this size and i hate to say it it is hard to build organizations uh that are large and over nine figures in revenue it takes a lot of work yeah And it takes something that is not easy to replicate, which is luck.

9:55And I think that is a big component of it. And do I believe I can do it again? Sure. But do I think it's going to be easy? No. So why not just continue with the thing I have? So you get to a certain point. You're just like, dude, why don't I just keep compounding this thing? Because over a long period of time, you know you're going to have everything you want from a monetary standpoint. I mean, technically, you already do. But point is, if you want to see how far you can really go, the best way is to just keep going on what you already have. And that's exactly what Mark Zuckerberg did when he got that offer for what?

10:24I think it was a couple billion bucks. And his share was like, he could have taken 250 or 500. But he's like, but why would I do that? I already like what I'm doing. Yeah. And he's like, I don't know what I would do with the money anyway. Yeah. And so, like, anyway, all I have to say is that these are the different mindsets and that's what it is. By the way, we were just talking about good products. Okay, I think it's healthy to talk about. So, Neil, you can pull it up and show this camera over here. But I want to talk about this new brand, Sterling Pacific. So this is known as the Rolls Royce of luggage brands.

10:53And Neil's pulling it up on camera. Check out our, if you're watching on YouTube. The inside is like all velvet and felt. It's really nice. So it's super nice luggage. And I was looking at this. So, because you and I have had Ramoas, which is nice luggage over the years, right? You still have a Ramoas right now? So my suitcases until now were Ramoas. Yep. Now they're sterling. Yeah. Or Sterling Pacific. As of today. As of today. Yeah. But the main reason I switched and I knew about this for a while, because you and I were discussing this, is because the inside of Ramoas are crap. Yeah. Like it's typically blue or black cloth because I tend to get the metal suitcase.

11:29There's nothing nice about it. It doesn't hold it well. They have the clips to hold it in place. It doesn't work as well as when there's a zipper compartment. So I wanted something that was nice on the inside and not just durable on the outside. Yeah. Look, I would say Ramoa, it's nice, but it does feel fairly cheap inside. But when you look at this Sterling Pacific, when you look at the outside and the inside, look, it's like a tank. Let me pull up the inside. Yeah. So Neil's going to pull it up on camera over here. But like straight up. Yeah. Look at that. It's like velvet. Oh, my God. That's so nice.

12:01And there's like compartments. I didn't open mine yet. It's so nice. So all that to say, I mean, I saw a mutual friend of ours, Gaetano. So he had one of these when I was speaking at the Ahrefs conference. And I was like, dude, I didn't want to take a look at this. And he ended up putting me in touch with the Sterling Pacific people. And we're talking about them right now because they were gracious enough to hook us up. And this is one of those, we talk about not doing influencer deals as much, right? But this is one of those where it's like, I would do it. This is totally worth it because look at the quality of this thing.

12:28And you know what's going to happen? When I saw Gaetano's, the fact I was like, whoa, what is that, right? That's when you know you have a great product. And sometimes the product sells itself. That's how you get word of mouth out. And by the way, they've been around for over 100 years. Really? Seriously, so it's that old of a company? Yeah, but they were selling high-end, I think, jewelry before or something like that. And then they pivoted to selling suitcases. Yeah, I'm already on their website. Yeah, are you looking for other luggage to get now too? Yeah, because it's so nice. I'm like, oh, what else can I end up buying from them?

12:58So anyway, all that to say, check it out, guys. Sterling Pacific, the Rolls Royce of luggage brands. Again, Neil and I, we've used Ramoa for a long time, which is kind of like the gold standard for traveling. but I think it's time if you're looking for an upgrade could be interesting for you so anyway guys that's it for today please don't forget to rate, view, subscribe and we'll see you tomorrow