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Literally the worst advice EVER on how to make $1,000,000

Fox

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There are so many things wrong with this its hard to know where to start.
 
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Lex DeVille

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There are so many things wrong with this its hard to know where to start.
If you do something for $10 10 times and then you do it 10 more times and then 10 more times after that you have $300, not $10,000, Steve.
 

Simon Angel

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If you do something for $10 10 times and then you do it 10 more times and then 10 more times after that you have $300, not $10,000, Steve.

It's pretty obvious that's not what he said, and he even emphasized on "Take what you did for that $100 and do it 10 more times. You now have $1000".

Breaking down a big goal into smaller chunks, such as making one million dollars, is an important step that we've all taken to help ourselves understand and plan appropriately on how to achieve said goal.

Laugh at him, mock him, the guy still has a net worth of $200M. If he wanted to, he needn't work a day more in his life, and neither would his kids, grandkids, and great-grandkids.

Could we say the same?
 
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Lex DeVille

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It's pretty obvious that's not what he said, and he even emphasized on "Take what you did for that $100 and do it 10 more times. You now have $1000".

Breaking down a big goal into smaller chunks, such as making one million dollars, is an important step that we've all taken to help ourselves understand and plan appropriately on how to achieve said goal.

Laugh at him, mock him, the guy still has a net worth of $200M. If he wanted to, he needn't work a day more in his life, and neither would his kids, grandkids, and great-grandkids.

Could we say the same?
No, "we" can't say the same. There is no "we." Just triggered you, and silly me.
 

Simon Angel

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It is still terrible advice.

At "one task an hour" and zero inflation/cost of living/business costs/staff/set backs...

$10 x 40 hour work week = $400
$400 x 50 weeks a year= 20k/yr
To reach a million 25 years

Lets say you could do 3 tasks an hour though and work 10 hours a day
$30 x 10 hours a day = $300
$300 x 5 days a week = $1500
$1500 x 50 weeks = $75k/year
To reach a million $13.3 years

Of course over 13-25 years you would have had multiple nervous breakdowns from working like a dog, inflation would have hit, you would have had to pay taxes, and so on.

Using this method you would never reach a million without making it something not even worth doing.

This is the most slowlane advice I have ever seen recommended anywhere.

What if you hire people and build a team to do it for you?
 
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Raja

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Find a 10 dollar idea which is scalelable, needed And most importantly profitable.
Basically CENTS and you have a fastlane business.

It all depends on your attitude.
 
G

Guest-5ty5s4

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There are so many things wrong with this its hard to know where to start.

I'm surprised he didn't give away the real secret to his massive success:

Have a really bad a$$ mustache.

——————————
edit: I actually watched it finally and the advice is good. That’s how service businesses grow. I’m not sure why y’all hate the advice. The math makes sense if you interpret what he’s saying properly: he’s multiplying, but he’s not saying it correctly so it’s confusing.

Baaically, find a $10 job someone needs done, do it, then scale it up to 10 jobs (that’s $100) then 10 times that to $1,000. Now hire 10 people (or 9 if you’re still doing it) and that’s $10,000 of value.

Like I said, no idea why y’all are hating on here, this actually makes sense.
 
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Bellsman

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I'm surprised he didn't give away the real secret to his massive success:

Have a really bad a$$ mustache.
It's the value skew in "Show Biz". Their "talent" is overpaid at an extremely high level. Once celebrities get to certain levels the scaling is not as necessary: letterman making 22 million a year at end if career. And scaling is dead simple...ok Nike or Skip the Dishes I will take x million to promote you. Or hey I have an idea for a product. Someone are it and I will put my name on it and sell it. DOn't get me Wrong - they work hard and are.good at what they do. Steve Harvey is at best a B level comic, a slightly above average Game Show host and a wannabe philosopher. He "lectures" people between shows...people who have paid to actually watch a lame game show being filmed.
 
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Guest-5ty5s4

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It's the value skew in "Show Biz". Their "talent" is overpaid at an extremely high level. Once celebrities get to certain levels the scaling is not as necessary: letterman making 22 million a year at end if career. And scaling is dead simple...ok Nike or Skip the Dishes I will take x million to promote you. Or hey I have an idea for a product. Someone are it and I will put my name on it and sell it. DOn't get me Wrong - they work hard and are.good at what they do. Steve Harvey is at best a B level comic, a slightly above average Game Show host and a wannabe philosopher. He "lectures" people between shows...people who have paid to actually watch a lame game show being filmed.

Yeah, the thing about celebrities is that you can find random people on the street with more skills and abilities.

Better singer? Go walk around a city and ask people to sing, you'll be shocked that quite a few sound as good or better than the most popular singers.

Marketing/branding is so huge in show biz. It is all perceived value.

edit: the advice actually IS good. I should have watched the video first. He’s describing scale. He’s describing a service company.
 
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reedracer

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This thread is so collegial! I do like his advice that attitude is a choice.
 
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SEBASTlAN

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The worst advice EVER to get to a million would be something like playing the lottery, crime/robbery or climbing the corporate ladder - not this. Literally.
 

MitchC

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The worst advice EVER to get to a million would be something like playing the lottery, crime/robbery or climbing the corporate ladder - not this. Literally.

or saving 10% of your income for 50 years
 

Fr33zerPop

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There are so many things wrong with this its hard to know where to start.
Clearly no one should be taking notes from his little chat. Despite the muddiness and fact that this clearly isn't how he made millions, I think he's trying to say:
"Start with what you know, and keep growing your skills. Enjoy the process. You can do this."
 
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G

Guest-5ty5s4

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There are so many things wrong with this its hard to know where to start.
I finally watched this whole video and actually, the advice is perfect and it’s exactly how every millionaire I know got where they are.

Can you build, repair, or fix something for $100? Great, now do 10 of those jobs this month. Great, now do the same but with bigger jobs. Great, now hire 10 employees.

See where I’m going?

The advice is actually perfect.

How did Waste Management start? FedEx? UPS?

Well, haul someone’s trash. That’s $50. Haul ten people’s trash. That’s $500. Hire ten people to each haul ten people’s trash (10 x 10 x $50): that’s $5,000. Hire 100 people to each haul ten people’s trash: that’s $500,000, potentially in a week, a month, maybe even a day. (depends how long it takes to haul trash)

That’s how businesses become enormous.

Why are you knocking the most basic and fundamental advice in the history of business?

He’s describing scale and the analogy is excellent. Does it have to be $10? No, you can have higher magnitude or lower magnitude. MJ wrote this in his books.

edit: the numbers are revenue but you get the idea and obviously at $500,000 per week, you only need a small profit margin to make huge amounts of money.
 
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WJK

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It's the value skew in "Show Biz". Their "talent" is overpaid at an extremely high level. Once celebrities get to certain levels the scaling is not as necessary: letterman making 22 million a year at end if career. And scaling is dead simple...ok Nike or Skip the Dishes I will take x million to promote you. Or hey I have an idea for a product. Someone are it and I will put my name on it and sell it. DOn't get me Wrong - they work hard and are.good at what they do. Steve Harvey is at best a B level comic, a slightly above average Game Show host and a wannabe philosopher. He "lectures" people between shows...people who have paid to actually watch a lame game show being filmed.
When I read your post, I thought about George Forman's grill.
 

Simon Angel

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For a forum full of wolves, it's funny how many people have a sheep mentality here.

A bunch of people instantly agreed with Fox, some probably without even watching the video OR attempting to understand Steve Harvey's advice, just because it was posted by a reputable source.

If MJ were to do the same, the effect would be 10x this.

But when I first pointed out that it's legitimate advice, I had the guy cosplaying Lucifer and Fox (later deleted) mock my comments, because apparently their sole intention was to just laugh at someone way more successful than us rather than extract the value in his sayings.
 
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WJK

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For a forum full of wolves, it's funny how many people have a sheep mentality here.

A bunch of people instantly agreed with Fox, some probably without even watching the video OR attempting to understand Steve Harvey's advice, just because it was posted by a reputable source.

If MJ were to do the same, the effect would be 10x this.

But when I first pointed out that it's legitimate advice, I had the guy cosplaying Lucifer and Fox (later deleted) mock my comments, because apparently their sole intention was to just laugh at someone way more successful than us rather than extract the value in his sayings.
I see it slightly differently. Yes, the advice that was made on this video is totally valid. It just a different mindset from the way that many believe it should be. He's saying that success is a long hard-won road. It's finding a small, working idea that is reliably profitable. Then systematically and deliberately growing that baby idea over time. There nothing instant nor sexy about the process. He's NOT talking about a 5-hour workweek -- where the owner travels the world and checks in every few days when the spirit moves him. He's talking about making a simplistic, balls-out, all-engaging work plan. Then working that plan like a dog for as long as it takes to reach that all-important goal. I believe that we call this type of plan Capitalism.
 

Simon Angel

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I see it slightly differently. Yes, the advice that was made on this video is totally valid. It just a different mindset from the way that many believe it should be. He's saying that success is a long hard-won road. It's finding a small, working idea that is reliably profitable. Then systematically and deliberately growing that baby idea over time. There nothing instant nor sexy about the process. He's NOT talking about a 5-hour workweek -- where the owner travels the world and checks in every few days when the spirit moves him. He's talking about making a simplistic, balls-out, all-engaging work plan. Then working that plan like a dog for as long as it takes to reach that all-important goal. I believe that we call this type of plan Capitalism.

Oh, I can agree with that. I'd rather make 10x less but retain my freedom than be a slave to my business.

Still, the guy explicitly said "And then you hire people" in the video. I believe it's normal to be grinding hard at the beginning of your business and then hiring others to do the work for you as you scale. Unless you're a big name or a great salesman, then you can just walk into a room with people and convince people to give you money.

Anyway, this thread has been dragging on for too long. It's solid, applicable advice but only part of the puzzle.
 
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Fox

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For a forum full of wolves, it's funny how many people have a sheep mentality here.

A bunch of people instantly agreed with Fox, some probably without even watching the video OR attempting to understand Steve Harvey's advice, just because it was posted by a reputable source.

If MJ were to do the same, the effect would be 10x this.

But when I first pointed out that it's legitimate advice, I had the guy cosplaying Lucifer and Fox (later deleted) mock my comments, because apparently their sole intention was to just laugh at someone way more successful than us rather than extract the value in his sayings.

I think it is terrible advice. I just deleted the post cause I didn't want to get in another online argument.
Full lockdown mode here and doing my best to avoid any drama.

Why it is terrible advice:
To someone who doesn't know what we know it sounds like you just keep doing the same thing over and over.

You are saying hiring staff, scale etc - he isn't though. He is saying do it 10 times, then do that 10 times (100), then do that ten times (1,000) and so on - it is an approach that half your life is gone and you are still working like a dog.

You can't take his advice and fill in the gaps for him and then say it is solid - cause 99% of people won't.
When you take it at face value it is literally terrible advice that would never work. Adding in little bits that do make it work doesn't change what he said.

And that he is rich himself doesn't make it any less terrible - his advice (as he is saying it word for word) sucks.

Anyway it would be nice if he added in some parts about building a team, building systems, leveraging marketing and so on. I am sure he knows how that works - but he didn't. And I actually really like some of his other videos.

But ya there is your answer. No one is a sheep - the advice just sucks.
 
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Fox

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Timestamp 2:11 "Now that is $10,000 a month, that is $120,000" a year.

He got this by saying a $10 idea by literally a 1,000 times.

So if you were cutting hair (his own example) that is 1,000 haircuts.

So only 33 a day every day of the month (and year). For ten years.

---

Okay at 2:55 he mentions some staff (after getting to over 100k) but still - it is like a 2 second point and he moves on.

For someone who hasn't been on these forums this advice is going to make zero sense.

Screenshot 2021-03-10 at 10.37.05.png
 

Simon Angel

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I think it is terrible advice. I just deleted the post cause I didn't want to get in another online argument.
Full lockdown mode here and doing my best to avoid any drama.

Why it is terrible advice:
To someone who doesn't know what we know it sounds like you just keep doing the same thing over and over.

You are saying hiring staff, scale etc - he isn't though. He is saying do it 10 times, then do that 10 times (100), then do that ten times (1,000) and so on - it is an approach that half your life is gone and you are still working like a dog.

You can't take his advice and fill in the gaps for him and then say it is solid - cause 99% of people won't.
When you take it at face value it is literally terrible advice that would never work. Adding in little bits that do make it work doesn't change what he said.

And that he is rich himself doesn't make it any less terrible - his advice (as he is saying it word for word) sucks.

Anyway it would be nice if he added in some parts about building a team, building systems, leveraging marketing and so on. I am sure he knows how that works - but he didn't. And I actually really like some of his other videos.

But ya there is your answer. No one is a sheep - the advice just sucks.

I see your point and I've always considered you a rational and logical thinker. We can pick at each other's arguments for days I'm sure, and yet from what I know about you and your values, we're much alike. And there's no drama between you and me.

Where are you in Europe that's in full lockdown?
 

Fox

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I see your point and I've always considered you a rational and logical thinker. We can pick at each other's arguments for days I'm sure, and yet from what I know about you and your values, we're much alike. And there's no drama between you and me.

Where are you in Europe that's in full lockdown?

Ya same - thanks.

I am in Poland. At the start of things they had a normal balanced approached but it has gotten way worse the last 6 months. No gyms, cinemas, restaurants, sports, activities etc are open and masks everywhere.

During this time I am very much trying to avoid arguing online ha!
@MTF has been monitoring me to make sure I stay on track :)

Thanks @Simon Angel and hope you are well also!
 
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Simon Angel

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Ya same - thanks.

I am in Poland. At the start of things they had a normal balanced approached but it has gotten way worse the last 6 months. No gyms, cinemas, restaurants, sports, activities etc are open and masks everywhere.

During this time I am very much trying to avoid arguing online ha!
@MTF has been monitoring me to make sure I stay on track :)

Thanks @Simon Angel and hope you are well also!

Thanks @Fox.

Yeah, I feel you man. It's been like that here in Bulgaria too, on and off. I unsubscribed from all news channels and mediums back in November and life has been much easier to deal with ever since.

We're currently going through a more liberal period so restaurants, cinemas, and gyms have just opened up. Went skiing recently, too. Half my social circle had covid, girlfriend included. I've gotten sick/colds three times since it all began, and somehow, it hasn't been covid, allegedly.

You know, I should probably tone down on the online arguing as well. It's much more draining and anxiety-triggering than in person lol.
 

WJK

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Oh, I can agree with that. I'd rather make 10x less but retain my freedom than be a slave to my business.
OK. My point exactly. That's the dichotomy of many people's current thinking. It's not right or wrong -- just a point of view. I hope it all works out for you. But, it is a point to ponder...
 
G

Guest-5ty5s4

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For a forum full of wolves, it's funny how many people have a sheep mentality here.

A bunch of people instantly agreed with Fox, some probably without even watching the video OR attempting to understand Steve Harvey's advice, just because it was posted by a reputable source.

If MJ were to do the same, the effect would be 10x this.

But when I first pointed out that it's legitimate advice, I had the guy cosplaying Lucifer and Fox (later deleted) mock my comments, because apparently their sole intention was to just laugh at someone way more successful than us rather than extract the value in his sayings.

This was me at first. I didn't even bother watching the video, assuming it was bad advice because everyone said it was. Then I watched it and was like...wait, this makes sense. He's not explaining it clearly, but I know what he means.

Anyway, it partly depends on your experience and industry, but this is definitely the best way to start and grow a business without an innovative product (that's pretty rare to pull off, actually) or twitter fandom.

1. Do work for real customers.
2. Scale by hiring and taking on more work - and raise your rates.
3. Profit. Big time.

Is it how Steve Harvey got rich? IDK - but that doesn't mean he can't give the advice. The steps I described above are so ubiquitous as to be obvious to anyone with a little money, because they meet other people who have money (and this is often how).

Can Bob Bowman outswim Michael Phelps? No, they have different skills. But Bob is one of the best coaches in history.
 
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