Chris Camillo: Why Building Your Own Business May Be Your Biggest Mistake

0:00I have a brand new book called Make Money Easy. and if you're looking to create more financial freedom in your life, you want abundance in your life and you want to stop making money hard in your life, but you wanna make it easier, you wanna make it flow, you wanna feel abundant, then make sure to go to makemoneyeasybook.com right now and get yourself a copy. I really think this is gonna help you transform your relationship with money this moment moving forward. We have some big guests and content coming up. Make sure you're following and stay tuned to this episode of The Daily Motivation Show.

0:38Hi, my name is Lewis Howes and welcome to The Daily Motivation Show.

0:48I would say for most people, it's insane to go out and start your own company ever. And I've done it. I've done it multiple times. Why is it insane to start your own company? Because you're almost definitely going to fail. Like when I said 75%, that's 75 % of my portfolio that were deeply vetted and I'm pretty good at doing what I do. Almost all companies will just fail. If you go to start a company, it's almost definitely you're going to fail. Even the ones that succeed maybe aren't making a lot of money. It's just getting by, it's breaking even, it's like 5%, you know, it's not making a ton where you're getting rich.

1:27There are a near infinite number of ways for a founder to fail. Okay. Now, put that aside. Okay. Being an investor, like just generally being an investor, right? Investing in stocks, investing in the market. This is what's so wild. You could actually go out and invest in the smartest people in the world. Like you could just be like, by the way, complete psychopaths. people that will be like, they don't, they're going to like destroy their family and, or not have a family. They will have basically no friends. They will work 80 hours a week. They're a genius. They're a psychopath. They are going to, they're going to do whatever it takes.

2:14They'll steamroll relationships to make their company a success. You can invest in Steve Jobs back in the day, You can invest in Jeff Bezos. You might hate Zuckerberg, but you can invest in Mark Zuckerberg if you want. Sam Altman, Elon Musk, whoever it is. You don't have to try to be them. You could just literally just throw some money and just ride their life. Just like anything they create, any value that they create in this world, you could just get paid for all the stuff that they're doing. like we don't ever think like that but you could do that like we already know who these people are and there are a lot of them out there right and do you think that you are that ambitious do you think that you're that smart are you willing to throw your whole life away just just to achieve what they achieve for almost everyone that's probably not a smart or a healthy decision honestly but you don't have to they're doing it yeah they're doing it for you so like i would this is like the one thing that i wish someone would have sat me aside 30 years ago and said chris you're gonna spend most of your life torturing yourself as a founder which is what happened to me okay starting companies growing companies you're gonna have a you're gonna have success this much of the time and almost all the rest, you're going to fail.

3:49Because I've started so many companies, almost all of them have failed. And it's exhausting. It's exhausting. You learn a lot. You're a smart guy and you're talented. You've got the skills and the resources and you know, managing people and understanding the markets and what should work. I have had so many privileges and so many advantages. And it's still so many. Like, I, like my parents were so amazing to have like moved us into a neighborhood with the most successful people in the country. And like, I would start businesses in middle school and high school, car detailing this, that, just deeply engaging with these people all the time.

4:30Right. And so, yeah, I've had access to some of the smartest, most ambitious people in the world that have helped me all along the way. And still it's almost impossible. It's almost impossible. And like now looking back, I joke around that I'm like, I'm like, you know, yes, I'm invested in 150 private companies. And I probably have tried to start that many over the course of my lifetime myself. and if I would have just not done any of that and just focused on investing in other great people and not that there aren't great people starting companies but it's really difficult to kind of decipher who who is like what their weaknesses are when they're just starting off in life and everyone looks great at the beginning of pitching an idea and we've got this amazing idea and it's revolutionary and it's the newest this and it's going to compete against all these other people and here's our projections in the next three to seven years.

5:28It's only going to go up. It's like everything looks good. But it's really hard to make money over five, seven, ten years in a business and to take on the adversities, the challenges, whether it's tariffs or whatever it is, like just people problems. It's hard to navigate every adversity every day that comes your way running a business and sustain it over years. Correct. It's really challenging. Meanwhile, you can just pick from the best companies in the world. And let them do the work. Let them do the work. And as soon as they do something that's sus, you can sell it and get into a different company.

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7:00Again, have an amazing day and I'll see you tomorrow with another episode of the Daily Motivation Show.