Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94

0:00And it took me nine months to go from basically, I had$47 in my bank account. Nine months later, I was making six figures on autopilot. I just passed 3 billion minutes watching my YouTube. 3 billion? Yeah. So Rockefeller made more money, a little bit more, but he had to work like an insane person. Whereas Carnegie used the mastermind brain trust idea to surround himself with the best idea and quantum leap forward with only two hours a day at work. I always tell people, be Carnegie, not Rockefeller. You need to be around people that you can trust their advice.

0:37ladies and gentlemen welcome to a very special edition of the money mondays we are here inside an rv motorhome parked in beverly hills california in front of a hundred bazillion dollar mansion and i am excited the whole reason for the rv motorhome is we can take this to busy people's houses or their offices or their football fields or if they're performing in concert we can show up to celebrities athletes and business moguls right to their doorstep because they're too busy to go to a podcast studio so we bring the podcast studio to them and this is the perfect example right now with a world traveling businessman you guys have for sure it takes away that you guys have seen him on social media you've seen him through ads you've seen him through organic content you've seen other people posting on him talking about it for many years just one of his commercials had 1.4 billion minutes watched and so i'm sure you guys have seen him before so what i'm going to do is i'm going to have him give a quick two-minute bio and then we can get straight to the money mr ty lopez what is my bio can you even do a two-minute bio i mean yeah i can do a 20 second one um i think my bio is like i'm an entrepreneur i'm adventurous i um yeah i've lived many lives i lived with the amish for two and a half years lived on a farm i have been i graduated high school sleeping on a couch in a mobile home in clayton north carolina i was born in la my dad was in prison and so i was born in long beach he was on an island prison called terminal island so grew up apart with a single mom and discovered internet marketing in 2001 I bought a course.

2:13Corey Rudel had a course for 300 bucks. And I was like I learned Google. Back then there was only Google ads. And it took me nine months to go from basically I had$47 in my bank account. Nine months later I was making six figures on autopilot. And so I just never looked back. The power of the internet to reach people now. Back then there was maybe a couple hundred million daily actives on social media. It wasn't really there. there's like friendster myspace now there's 4.5 billion so it's like my my motto for my companies i also buy and sell companies i bought and sold some of the biggest companies in america and now like my mission for my personal brand is the same one i had 10 years ago which was spread good ideas you know so i've been in the education space i've got 7 million followers i got i just passed 3 billion minutes watching my youtube 3 billion yeah 3 billion it was like a A couple weeks ago.

3:12I've been saying 2.8 billion. Then I looked and it was like, oh, it's right at 3 billion. That's so wild. Yes, 200. It went up like 200 million. Three Super Bowls. Yeah. I've been watched. Yeah. So that's my story, you know, and I'm interested and I do lots of stuff. And I live in Beverly Hills and then I have a farm in the U.S. And then I live also in Sweden. So I like rotate Brazil in the winter. Very cool. I just had a Brazilian baby. There you go. I know. Congrats on that. That's awesome. That's awesome. And six Brazilian women live with me now. So I'm basically Brazilian. You got good food.

3:44I do Brazilian jujitsu. I'm going to have to start doing that next. Yeah. Okay. So as you guys know, the way the podcast works is we keep it to under 40 minutes because the average commute to work is 45 minutes. The average workout is 45 minutes. So we keep these episodes of 34 to 39 minutes for your listening pleasure. On this episode, I want to focus on masterminds and understand the importance of networking, learning and surrounding yourself with greatness surrounding yourself with other like-minded people and who better to ask than tai lopez who's done this for many many years speaking at masterminds hosting his own masterminds we created a mastermind together and everything between so i want to dive into the entire mastermind business but also why people should be attending masterminds why they should learn about them maybe even host their own little groups on zoom or in person in their own cities like let's just talk through the mastermind world first off like what was one of the first masterminds that you attended or spoke at man i went to a mastermind in like oh seven or oh eight it was funny i went with this guy who's definitely one of the best marketers in the world super secretive guy owns a lot of websites that are faceless and i remember going to one in new york city he's one of the first ones and he gave a talk and when i the next day i was like you know what everything you said at that talk was uh different than what you told me works for you privately he's like oh yeah i like to go to masterminds and give all the wrong info so everybody copies my wrong landing pages my funnel so that was the first introduction don't go to mastermind with this friend of mine because he's like i throw all my because he's like if i give my best stuff everyone will copy so that was my first intro i launched my first mastermind probably in 2011 so i've been doing masterminds a long time um i think feel like you came to some of them i used to do like masterminds at my house in the hills and they would also transition into kind of like a party i like that vibe because one thing i've learned with masterminds is if they're too formal you can't get some of the best dudes like for those guys they don't necessarily want to go to a super strict one but if you have some fun to it they'll show up for the fun so you can some people there are people that like that like hardcore business and there's another group that's ballers you want to be around them but so i had like these entertaining masterminds kind of like what we're doing together doing the same thing with the party the last day um so yeah it was it was a game changer because i cut my philosophy on masterminds basically is you read the book the gospel of wealth by carnegie so second richest man in modern history is andrew carnegie first is jd rockefeller worth about 600 billion in today's dollars um and carnegie was worth about 400 billion so close but what i liked about carnegie carnegie early age around 25 30 he made his first couple mil and he said i'll never work more than two hours a day but what he said he did was create a brain trust of really smart people around him and he said no matter we said all we often didn't disagree we often did not agree he says in the gospel wealth but out of that brain trust came some of the ideas that took him from while working two hours a day took him to 400 billion net worth so if you could be rockefeller rockefeller worked like a dog 16 hours a day at age 50 all his hair fell out there's a famous quote he said all of the money i've made 600 billion hasn't compensated me for the stress i went through so rockefeller made more money a little bit more but he had to work like an insane person whereas carnegie used the mastermind brain trust idea to surround himself with the best idea and quantum leap forward with only two hours a day work i always tell people be carnegie not rockefeller be the second richest man in the world who only works two hours a day you know so masterminds can range you know we've both spoken at many many masterminds over the years they can be 25 000 they can be 100 000 20 000 50 000 10 000.

7:38why is it important for someone to pay why is important to actually pay to be in a mastermind yeah well you don't there was a dude i remember down in san diego he used to have about 5k mastermind You did not want to go to that mastermind. There's no screening. So I remember I went one time. I used to live down in San Diego, and you had a 5K. It was one year. You got whatever, four events for$5 ,000. Yeah, the quality of the group. No offense to people, but it depends what level you're on. Maybe if you're a brand-new beginner, you're not making any money, really. Maybe a 5K mastermind is all you can afford, and it will still be.

8:13But if you're making any amount of money, you want to be in a gated one. You want to be in a gated one. You want to at least be paying$20 ,000 to$30 ,000. And some of the best masterminds I've had, like I've done my own. I do my own mini masterminds, by the way. I have a couple marketing guys. You do the same thing. Me and you kind of have a WhatsApp mastermind. We'll talk. So you could have, I have formal ones, and I have little groups on WhatsApp. I paid one time Steve Ballmer$250 ,000 to have lunch with him. You know, now he's the fifth richest man in history. When I was there, he brought another guy.

8:49We were all sitting around having dinner for a few hours. It was like a dinner table. I paid a quarter of a mil. Well, I gave it to his charity. He didn't want the money. But, by the way, the other guy there was the owner of the Golden State Warriors. So it was like three of us. It was funny. Steve Ballmer left the table. He was like, Ty, I got to go for 30 minutes. We were down at the Staples Center. So he leaves. We're having. I'm like, oh, man, he left me with this guy. Oh, hey, Vivek. It wasn't Vivek. It was a different. It was a former one. It was the guy before that. So I'm sitting here with this.

9:18It was an Asian guy. And I'm sitting there. And I'm thinking, oh, this is his assistant. He left me with it. Oh, my God. So I just had a totally normal conversation. Just like, so what do you think? Who's going to win the game? The Clippers? And after like 15 minutes, I was like, by the way, you know, I was like, thank God I didn't say how long have you worked for Steve. Right. But I was like, how did you guys meet? And he's like, oh, when I owned the Golden State Warriors before I sold it, and I was like, oh, shit. Oh, my God. So what I'm saying is that was a master, a mini mastermind that cost 250 grand at the table.

9:49But I had some of the best advice I've had in my life on buying and selling companies because I was with a guy that at that time was worth 50. It was worth 47 billion, I remember. So you need to be around people that you can trust their advice because nowadays everybody has advice. everybody's advisor right i go on my instagram i'm like this motherfucker is like people taking from advice from a dude who made money for three months and now he's like a guru he's a 20 year old life coach yeah i have my friend jeremy that's in my house right now he was in bali i remember him texting me during covid and he's like dude i'm in i'm in a jacuzzi with like 10 people and one of these motherfuckers is a i said how old are you you guys 20 what do you do life coach She's like, who do you coach?

10:35Eight-year-olds? At 20, you can coach eight-year-olds. You can coach people 10 years younger than you because you got the experience. But yeah, so when you pay for a good mastermind or pay for like a seat at the table, you're getting assurance that this advice is tried and true and tested. You know what I mean? Absolutely. So in 2019, after a decade of throwing free events called Elevator Nights, I finally created the 100 Million Mastermind Experience. 100 million mastermind was a hundred thousand dollars per person yep and my goal was everyone inside this group was going to do at least five million in revenue preferably 10 million or higher yeah so that was the gatekeeping part of yeah they had to be doing five to ten million bucks most of them doing 10 to 40 million in revenue yeah i brought in a bunch of structures that were either doing over 100 million in sales yeah spending over 100 million on ads yeah or been seen by over 100 million people yep a lot of them are your friends yeah marcus simonis the wolf of wall street neil patel yeah the morrison brothers like guys that were movers and shakers spending a lot of money so that they could be the instructors to teach people yeah in this group within seven weeks yeah we sold all hundred spots at a hundred thousand dollars yeah i look back at that in 2019 it was like an enigma yeah or a situation of like after all these years i'd never sold into a mastermind i was just spoken everybody else's mastermind and i realized in that moment and why I'm so obsessed with masterminds now is how much people want to be in the room with other people in their similar world.

12:00And here's why most entrepreneurs feel like they're on an island. Yeah. They're by themselves. They can't talk with their wife or husband, friend or dad. It sounds like you're either bragging or it's weird. Like you're like, yeah, I did 14 million sales, but my staff member did this or my manufacturer did that or the vendor was late. And we have these situations that who are we going to talk to our buddy from high school? You can't. It would be weird to tell your buddy from high school that makes 80 grand a year at his job about losing two million dollars in a business deal or whatever yeah you don't want to tell him no you don't want to tell him it's almost he almost feels rude or like what do they get what advice could they possibly give you anyways and even if your friend is successful and they have four restaurants how can they help you when you have an e-commerce brand doing 14 million scaling to 32 like that's just two different worlds and so i realized the hunger and appetite when we sold out 100 spots literally 10 million dollars revenue in seven weeks fast forward half a decade later i think some of the most impactful things have happened from that mastermind because now there's tens of millions of dollars we raise for charity yeah we've watched tens of millions of dollars be raised for companies and startups we raised 56 million dollars for private equity from those groups we raised millions of dollars for charity like there's just so much impact that have happens from surrounding yourself with these high-end people in your space in your world yeah and then And what you and I created is the 20K version.

13:19Same quality, same feel, same style. What the entrepreneurs are doing 500K, a million, 5 million, 10 million, 2 million, so that it's more affordable and more realistic to get into it. Talk me through your thoughts on the concept. Yeah, so the$20 million mastermind, like you said, it's like, can still have two levels. It's going to be two different masterminds, but there's a huge gap in the market for people that are wanting to hit 20 million. They're not there yet. And what I would say is, I tell people this, I've heard people, Russell Brunson, a friend of mine, sometimes he says, you're one funnel away from doubling your net worth.

13:52Right. There's truth to that. But I would say even more so, you're one relationship. For sure. Away from doubling your net worth. Meaning there's some person walking this planet that knows one thing about Facebook ads or knows one thing about raising capital. And if you knew them on a friendly basis, they'd tell you. Because I tell people, people don't always tell you every secret they know. so if you buy a course if you buy a book they don't put everything in because people reserve their very best stuff for friends so when you start coming to a mastermind social events dinners stuff like that people's guard drops and they give you their best advice back in 2014 i was at a dinner i swear it might have been one of your dinners i wish i could remember but 2015 a guy's like there's a new thing called youtube ad that's really taken off and i was in uh september 2014 and i was like you know what i've learned when somebody test everything people tell you so i was like let me do a little test so in december 2014 i spent 17 grand on youtube ads and made back like one grand i made no i was like oh this girl got me yeah but the next month i kept dialing in the funnel and i made i went i launched i remember it was july it was january 24th 2015 i launched and we cracked the code we had this here in my garage video and a couple variations and this thing started and i would spend 60 grand and make 120 000 back in an hour i was making like 60 000 it was crazy so that as much as i'd like to claim all the genius myself it really back to that dinner if by the way if you're that guy and you remember i want to take that guy to dinner because i i can't remember who the hell it was but the point is that guy in his head probably had some friend making money on YouTube ads and even though I'd heard of it a guy at dinner's like dude I think you'll be good on this YouTube ads and he kind of encouraged me so you need that to catch trends you cannot keep up on all the trends yourself you'd have to read 30 books a day 30 newspapers a day you have to be Warren Buffett that's the only dude I know who reads 800 pages he says he reads 800 pages a day so you either could read 800 pages a day to keep up with the trends or you can go to like dinners masterminds and and build a huge network and one of them i guarantee almost anybody that you'll dub your net worth off something in somebody else's head you can't have all the answers within you know you just can't so network that old saying like always be abc always be closing i'm like no always be networking always be networking you know the age-old question people ask you on podcasts or speeches or stages is like what what's your what's your superpower yeah my answer always is my cell phone right whether i want to get a reservation at a restaurant or buy a restaurant right it's a text message away yes i can raise the capital for restaurant get a reservation for hey ty and i are going to go to this fancy dinner boom boom boom it's a text away that's from relationships and it changes my life it fast forwards my life ty says you know what i want to manufacture black glasses oh i know this manufacturer this is his name i'll group chat you by the way that reminds me i gotta ask you about a manufacturer so there you go there you go exactly there's a lot of stuff in his head dan's a connect people think i'm a connected dude i'm like dan's dan probably got me beat and then right when you say it i think oh i know exactly who the manufacturer is yeah oh i know this should be the 3pl warehouse we should use yes oh this is the lawyer that does really good patents bam you should use this lawyer yeah oh you want your funnel here there's a really good kid he's actually super smart he's only 24 but he's done this this and this and this wait a minute you need someone that knows how to scale it on specifically on linkedin oh i know a linkedin got it for you wait oh on twitter oh there's this there's an agency called blah blah blah they do twitter marketing like in my head yes and boom group chat group chat group chat group chat and all of those people i met masterminds events charity events social media more events like i just meet them and i collect all the good ones yeah and then i'm also like the yelp for this industry yes just like you are we know who's good yeah you got the rating stars you're like don't go there the other day somebody hired some guy i was like red alert pull back pull back retreat you know you know by the way the best argument ever of a mastermind that created the most wealth in history they didn't call a mastermind it's now called the paypal mafia yes and elon musk joined this group of people he had sold his first company for about 30 million He reinvested the money back and merged into PayPal with Peter Thiel.

18:24But if you look at a photo of the PayPal mafia, a whole bunch of smart business people basically living or meeting together every day in a mastermind setting, big room, talking, 23 of them. Elon was one of 23. The other guys, Ken Howery, friend of mine, him and Peter Thiel started Founder Fund, the second largest VC fund. They funded everybody. They funded Uber, Airbnb. So you had Ken Howery, Peter Thiel, some people say the highest IQ businessman on earth right now, worth$10 billion. The two guys in that PayPal mafia went on to found a small company called YouTube. So the two co-founders of YouTube came out of there.

19:06A guy started a business social networking platform named LinkedIn. He sold it for a bill. Reid Hoffman was in there. and the founder of Palantir, one of the biggest tech companies, the founder of Yelp. Oh my God. So when we see Elon Musk, we go, oh, the richest man on earth, 250 billion net worth. Oh, he's just a guy who sits in a room, has great ideas. I could never be like him. No, no, no, no. His inception, the beginning of real wealth for him was being in a mastermind network. Now he was, if you could mastermind every day is better. It's not realistic for everybody, But he was masterminding every day for years with some of the people who became and were at the time the highest IQ business people.

19:51So you have to create your own PayPal mafia. The mastermind me and you are doing is moves people towards that. It's our version of PayPal mafia. I don't know if it's – I hope it produces, you know, 20 billionaires out of it or whatever, 10 billionaires. but the point being you have to if you don't have a paypal mafia you will be born and die with half the net worth you could have had half maybe a 10 so for me a mastermind in networking it's not optional there's no smart dude once again going back that dinner with steve balmer 250 now he's worth 150 billion dollars he owns five percent of microsoft three trillion dollar company i asked him i said you know wealth it's like you do you deserve all this kind of thing at dinner he's like Like, well, you know, I'm a smart guy.

20:41I would have been wealthy. But if I hadn't met these two guys, Paul Allen and Bill Gates, I wouldn't be worth$150 billion. So he was like, the connections I made created my wealth. And by the way, Mark Zuckerberg, who's the youngest, wealthiest person. Mark Zuckerberg was the only person in history worth$100 billion under age 37. And Zuckerberg, he networked. He had all these smart people. He also networked and had Steve Jobs as his mentor in his mastermind. Your mentors can be in your mastermind. People don't know. He had Steve Jobs guiding him from like 2008 till when Steve Jobs died. So years of masterminding.

21:22So behind every Forbes list billionaire, if you dig into this story, there's a mastermind. And so when I meet entrepreneurs that are doing$1 million,$5 million,$10 million, and I'm like, who's your mastermind? They're like, oh, I don't need one. I'm like, bro, let me get this straight. you're smarter than Elon Musk. You're smarter than the whole Forbes list. Warren Buffett said, I wouldn't have been that wealthy if I hadn't met this guy, Charlie Munger. He met him at like a group thing, like a conference, and he met this guy. They eventually became partners. Before then, Warren Buffett was working twice as hard and making half the money.

21:57And he's like, I met this guy, Charlie Munger. A great book on this, if you want the actual science, is by Jim Collins. He wrote a series of books, good to great, generally considered the most respected modern business books. He's like the modern Peter Drucker. In his research of highly successful, high net worth individuals, he was surprised. He said, I thought it would be a what event, meaning somebody had an invention and thought of something. He said what it turned out to be was a who event. This guy met this other guy. Steve Jobs met Wozniak. When Steve Jobs was young, he networked with the, his neighbor was the founder of Hewlett Packard.

22:41So when Jim Collins, who's a researcher at one of the most respected business researchers, he said, wait, it's not somebody coming up with some idea. It's somebody meeting, connecting with another human. That's it. There's a lot of books on this. Working Together by Michael Eisner, the former CEO of Disney. He also says it's a myth that solo people make the most money. It's people who either have joint ventures, partnerships, network, share ideas. By the way, we could just go back to Carnegie. $400 billion net worth, and he says he owed it all to his brain trust. That's another word for master.

23:19That's an 1800s word for brain trust. I mean, that's an 1800s word for mastermind. So we changed it to 20 mil brain trust. 20 mil brain trust. I still feel you. You put it in sub-headline. build your brain trust. All right. So let's talk through actual masterminds. One of my favorite parts of masterminds and what I've implemented for years, and I've seen at your masterminds as well, is I call it forced interactions. Yes. I know that person is looking to raise capital. Oh, you should meet this person who likes to invest. I know that person's looking for the manufacturer. Oh, that manufacturer is actually here.

23:50You should meet. Yes. This person is looking for a lawyer. Oh, that's great. We actually have a lawyer here in the building. He owns a law firm. and forced interactions allows people to talk discuss learn or potentially work together walk us through why it's important for introverts to be able to be in masterminds like this yeah because introversion look about half the world genetically is literally born on the more introverted style uh side if you look at there's a modern science more more advanced called hexaco score there's like the big five those are the old ones the newest ones called a hexaco in there there's a hexaco stands for h is honesty humility e is emotionality x is extroversion introversion people are on a spectrum of extroversion and a lot of introverts want to just change themselves and go oh i'll just figure this out on my own i'll start magically i'll start being able to walk up to people on the streets if you're introverted it's better to get yourself in a room where there's forced interactions but it'll be a little uncomfortable for a second but most introverts realize oh man i need to be around more people they're really good at talking once you talk to them yeah introverts are actually it's a myth that introverts aren't social introverts sometimes if you're an introvert watching this in fact some scientists say introverts prefer to be in social settings they just want to be not in the center and they don't want to be in the center of the room they like that's one of the classic psychological it's called psychometric questions are you a fly on the wall in a party or do you go to the center of the room extroverts walk into a birthday party they walk right to the center my friend herman is a phd guy the number one expert he walks in goes to the center where the most people are i have another friend rick he finds he likes the room but he needs to be in the corner so if you're an introvert you have to have at these good masterminds the way you you know you do it and the way we're doing it is like hey, dude here in the middle, go talk to this guy.

25:48He's got in connected. Yeah. So the flow of a mastermind weekend is also important. Yes. So I've been studying it. Every single time I posted a mastermind, we do an exit report. And we ask the members and the instructors, what did you like? What did you not like? What could we improve on? Not necessarily that we're going to change everything, but I want to hear and see if there's a consensus. Maybe there's something that 40 of them out of 100 are saying. Okay. If it's two of them, I'm probably not going to change it. but 40 people say something, maybe we actually could change our ad. And what we learned the most was called breakout sessions.

26:19Breakout sessions is eight to 12 people. It's just called eight. Sit into a table in a different room. And then each of them talk between the seven and 15 minutes each about their situation. And then the other seven people in that group say what their advice is, what their ideas are, what their relationship is, and help them actually fix their problem. The amount of breakthroughs that happen in these sessions is staggering. Walk us through why. you should actually be vulnerable and talk about the bad stuff when you're in masterminds why should you talk about the hardest stuff in your company yeah that's hey i tell people never be never fear someone's opinion never fear looking bad just fear living a shitty life so if you go to a mastermind don't be worried oh if i say this i look bad there's always someone richer and someone poor say it because you're you're only optimizing for a good life so i'd get in there I always tell people at Mastermind, what's, I call it the GBB.

27:15This is what I do when I do a private mentoring of people. I always start to call it, what's the GBB? What's going super good? What's going bad? And what's the number one thing you're blocked on that you've tried to fix, but you can't fix? Because right now, every entrepreneur has things that are bad in their business, but they know the solution. That's so that, you don't need a Mastermind for that. You need a mastermind for the things you've tried to fix and you're stuck. Entrepreneurs plateau on revenue for five years. They don't know how to get out of it. Go to the group. Be like, you know what?

27:46I've been five years. I had a guy come across the street there. Guy came to me. He's like, Ty, 2013, I made$2 million. 2014, I made$2 million. 2015, I made$2 million. And he started working with me, Prime Mentor. 2016, he went into$12 million. He even did$2 million the first month he was masterminding with me. so what used to take him a year to now he's he did 40 the next year he's pretty well known most of you know who he is and he's doing like 100 but my point is he was blocked and so he was humble enough to be like dude i'm at two two two what the hell and so you just vulnerably say i'm stuck and somebody in that room 90 of the time knows the solution right away and here's why you can't see the picture when you're inside of the frame yeah exactly he was living and breathing he's inside the frame over and over and over he can't tell that you're like wait a minute you don't do linkedin twitter and facebook and he's like no no i only do instagram yes wait you never actually hired a sales team you do all the sales calls yourself why would you do that yes spend 20 grand a month on this and you'll do an extra 2 million yes and we get blocked because we're just inside the frame we don't know we only see what's in front of us when the people like ty can be like wait a minute you can do this it's easy it looks like easy to us because we're just staying outside analyzing the situation when you're inside of it and you can't talk to anybody else you get stuck you get stuck for two million two million two million like in that example so in the 20 million mastermind the concept is it's three days yep it's multiple events throughout the year um two of the events are here at the ranch and the other two events are here at the mansion yep and people can pick and choose between the dates and the reason that we did four events throughout the year and give people options 100 million mastermind is three weekends for the year yep same concept they come to the mansion or they go to the ranch and then sometimes we might throw it in another venue if we choose to go to miami or vegas etc but most of the time we're going to be doing that the mansions and ranches yeah why is environment important like why did you get this big mansion to create your office inside of it throw these parties these monthly events you've been throwing why build this environment well the good thing about doing in the same place is every event i do we get some random dude that i know that would never come that's making a bill right so if you move them around too much you don't build flow people know all people around beverly hills know every month ty does it opens up his house for big baller guys so i like it's good to move it like we're moving in between my place and your your ranch um but having it kind of in a set place will help bring the quality up and so um but yeah big house i mean I always tell people, big house is such a good investment.

30:27You can use it personally. You can use it business. I got a movie theater in there. You got your gym in there. Makes you more money. But when people come, by the way, a lot of people get, there was a guy, Shane, this Shane CEO guy. He came and he's like, not only was I at the mastermind and learned stuff, but I also learned I need to get a good, I need to start hosting these on my own and he's in Atlanta. So you're going to get a lot of good ideas from the mastermind. not just what people say, but also watch what people do more than they say. So I've also been seeing your ads nonstop. A lot of people have been bringing it up to me that you've been throwing these parties.

31:02Yes. So after the masterminds, you've been throwing these one-off events, mastermind style, and then you have these parties from 2 p.m. to 8 p.m. Walk us through the reason for the party. Like I said, I mean, my grandma used to say, never be boring. So I like a little sexiness. You know, like some masterminds that I've gone to, it's like so boring. and day three everybody's asleep or people leave i had three-day mastermind day one everyone there day two day three like get me home they're just sitting in the hilton ballroom yeah they're sitting in a ballroom it was nothing i did a party there was a garrett well you know who garrett white is he was there wait he brought his wife and he was like this is the best thing this was last weekend did a halloween with it's like i've been to everybody's like this is the best one i've ever been to it was like i can't believe it because it's a mixture i call it edutainment there you go you need education, but you need a little entertainment too.

31:52That's what my grandma, that's why people sometimes see my story and they're like, oh, you post stuff that's not business. I'm like, my grandma, my hundred year old grandma told me this. Don't be boring. So this at here is going to, it won't be boring. I ain't never been to a Beverly Hills party. Hollywood party is fun. It's fun. We do them in the, I don't get, let them get too crazy. Cause we don't do them at night, late into the night. Late into the night is too crazy. There's a level of crazy that I like. I'm still a businessman. man so i don't want full-on wacky parties but this is classy it's fun and also one of one i got a guy these two e-com dudes they're doing my meal a week right net and um they come for that and they've been to the masterminds too but they always make sure they're there for the party and they end up masterminding all day at the party right you know sometimes some people do better in a formal setting some people need to be out at the pool you know got food drinks talking some people let down their guard the whole point is anybody watching this you're gonna make you're gonna get the best piece of advice you're gonna make the most money when people's guard is down a house i like a house better than a hotel you bring people to a hotel everybody's all formal and stuff like that so a big cool house or like your ranch it's like it's a different vibe so So let's say someone is really going for it, right?

33:13They're doing 10, 20, 30, 40 million. Going into these high level masterminds, like$100 ,000 per person, which we have, which is called 100 million mastermind experience. Yeah. Why would someone that's doing 10, 20, 30,$40 million, why do they need to mastermind? Why do they need to network? Yeah. First off, always stay proportional to your net. So I used to always have a rule. I still do. 5 % of what I'm making every month, I've doubled down into my brain. so if you're making 40 million let's say you're doing 20 margins you're doing eight million dollars a year you should be spending five percent four four hundred thousand dollars a year on intelligence competitive intelligence by the way the higher you get up you also need competitive intelligence i see people launching campaigns i'm like no no no i can tell you right that one doesn't work right so the wealthier you are the more value you'll get from a mastermind and you don't want to be, like I said, in that old San Diego$5 ,000 mastermind.

34:10Go to$100 ,000. It's tax deductible. I tell people, don't be cheap. Only be cheap with like, I remember Mark Cuban came to my house. It's interesting. He's like, Ty, you can look on my YouTube. We had an interesting long talk and he's like, when I go to Costco every year, I buy all my toothpaste for the year because I save like 7%. I'm thinking, who am I fucking toothpaste? So he's saving, he's a billionaire thinking about how he saves 100 bucks a year. But then I was like, after he was at my house, I'm like, where are you going? He's like, oh, I keep my jet warmed up down at the LAX because my time is valuable.

34:51So what I learned is the ultra wealthy, they are cheap when it's easy to be cheap. Toothpaste, if you can apply a coupon and save 40 bucks a year, no matter how rich you are, use the damn coupon. But when it comes to your time and saving time, he'll keep a jet engines on. That'll cost you$50 ,000 to keep the jet on just so you don't have to warm it back up when you get there. So if you are doing$30 ,000,$40 ,000,$50 million, how can you save five years? How can you save three years? How can you save one year? That is you must be in a room with all people who can afford to pay$100 ,000. If they can pay$100 ,000, they're qualified most likely unless they inherited their money.

35:34They're not a lot of trust fund kids in our stuff. There's actually been one pitch, one sentence I've ever used to explain why someone should join the 100 million mastermind. And here's what it is. If you're doing over$10 million in sales and you believe that myself, Tai Lopez, 20 other instructors, business people, and 100 other members that are doing 10, 20, 30 million can help you save 1 % or make 1 % more, then it's free. Yes. 100 ,000 is literally free. Yes. I hope you think that I can do that or Ty can do that on our own to help you save one or two percent if you're doing 10 or 20 million.

36:11But it's literally impossible with a room full of 100 people, right? Are movers and shakers to not help you teach you about something for taxes. Yes. Or the way you ship things or the way you manufacture things or the way you sell things or how to protect yourself better. And that one or two percent that you save in that example, well, it doesn't go away. You don't unlearn how to save one percent on your taxes. Next year, you go from 10 million to 16 million. 16 to 23, 23 to 30. And you're still going to know what we taught you half a decade ago. That's why I've only ever said that one thing to people because it's like a light moment.

36:44Like, yeah, I am doing 19 million sales. And yeah, I do think that you guys could teach me how to save or make 1%. So when someone is in that scaling mode and they're starting to really build up their companies, how can they decide and filter through what type of masterminds or coaches or mentors to hire yeah well i have a simple rule i call it the two decade rule i like to be around people that have been wealthy for 20 years or been killing it for 20 years like if you want to learn i've been doing i've been doing fun i built my first funnel in 2001 if you want to learn funnels scaling internet stuff i've been doing social media i was i i was on a i was big on myspace in 2006 i was on a tv show called millionaire matchmaker i had a huge myspace i've been doing social media since before 2005 so don't come to me and dan's mastermind if your criteria is how to build a factory in china there's probably a better mastermind i would literally find dudes that have been on fact building factories and for 20 years if you want to be around people that know how to go viral on social that knew how to do i've got five of the most profitable and largest paid ad campaigns in history not just here in my garage so if you're interested in scaling with ads if you want to be networking genius if you want to dan has like 75 companies if you understand how to raise capital go to this kind of mastermind so i just use the 20 year you've been killing it for 20 years the number one mastermind i would avoid is when you ask that question it's like i've been doing this three years there's an old saying the young doctor fattens the graveyard so if you need heart surgery and you and you it's kind of like a mastermind the hospital's a mastermind you roll up and you're like yeah they're like oh we're so happy to be here you're gonna be my third heart surgery you're like no i want no when i went to do my lasik surgery yeah chris paul's a friend of mine basketball player he's like i said i need lasik he's like oh lebron james and me we got our eyes done at dr seal in beverly hills so i go to dr seal he's about to cut my they're literally about to cut your eyes and i go you've been doing this for a while right and he He goes, you know, I calculated the other day.

38:53You're about number 60 ,000. Oh, my God. Yeah, he had the patent and trademark on LASIK in the 90s. So I was like, you're qualified. And so that's what I mean. Go to the mastermind that's like Dr. Raciel doing your eyes. You want a guy who's like, oh, I've done this 60 ,000 times. That's the mastermind. So just go by credentials. Not college degree because college degree is not experience. Go by credentials and experience. Just ask people, you know. So I'm going to give you guys a real life mentor example. So let's say that I want to start a clothing line and Ty Lopez wants to start a clothing line.

39:27I want to go do it by myself. And Ty hires Damon John to be his mentor or coach. And he gives him a little percentage of Ty's clothing line versus Dan's clothing line. I'm going to go on Google and be like clothing manufacturer. Damon's going to text 19 different manufacturers and Ty can pick through which ones for shoes, sunglasses, underwear, sweaters, hoodies, leather jackets, everything. i'm over here googling shoe manufacturer and i'm calling hello is there a shoe manufacturer there and i'm hoping that someone picks up the phone damon's texting the people he's known for 26 years i'm like uh i i want to sell to the footlocker and macy's looking up the buyers damon texts them and says oh ty let me introduce you the buyer of macy's and the buyer of footlocker the it's not just the learning curve a mentor can literally walk you through the forest like and so fast i could keep going with examples but you guys get the point like when someone has that type of experience if it's the fast forward button yeah time might have to give up 10 let's say he gave 10 equity which sounds like a lot to damon john don't you think he's going to get him to the 10 million in sales way faster than 10 percent's worth yeah i mean ty could get there eventually of course a year two years three years four years five years but if he gives up 10 don't you think he's going to get there and way faster with damon john where me i'm like the little engine that could hoping that it works and it might take me five or ten years if i make it yeah where most people don't even make it ty's for sure gonna make it because he has damon as his guiding lights yeah yeah tell people you can do this the easy way you can do it a hard way your choice you know i sometimes say you can be right or you can be rich you know what's interesting a lot of people will tell you they'd rather be rich but if you look at their behavior a lot of people would rather be right they have a conviction they're like i can do this i can do it close to the night by myself I'm like, great, you can be right or you can be rich.

41:16As the philosopher Nietzsche said, convictions are greater enemies of the truth than lies. So a lot of entrepreneurs, it's just in their head. They got these weird, you know, self-sufficiency. And when you look at the numbers, everybody's getting help that wins. So whoever has, you know, a good analogy, you show up to a fight, who wins a fight? one huge MMA strong guy or 50 medium-sized guys. It's the bigger army that wins. Dr. Buss told me that. He said in chimpanzees, they attack each other a lot in troops, little groups. And he's like, in chimpanzee warfare, it's not who's the biggest, strongest.

42:01It's literally numerical count. So if there's 50 little chimps, they destroy 10 big chimps. And so it's the same with entrepreneurs. One supposed genius entrepreneur is going to get taken down by a person who has a mastermind of 100 people behind him. He's going to get outmaneuvered. Nothing you can do. All right, guys. So if you want to check us out, go to 20milmastermind.com. Check out Ty Lopez across social media on every platform. It's under the same screen name. It's Ty Lopez. What are your final thoughts about 20milmastermind or why masterminds in general? Yeah, I would say I like what somebody summarized what Charles Darwin said.