The Undercover Billionaire: Building a $1m business in 90 days

[Kak]

I'm currently watching a show on Discovery Channel called "The Undercover Billionaire."

The premise is they drop a billionaire in a random city with a truck and 100 bucks and he bets he can build a million dollar business in 90 days.

I thought that was cool and I should share.

 

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[Rawseed]

Great premise. Make a million dollars from scratch. In 90 days. From $100.

Thanks for posting. Definitely going to watch.

Most people will hate on the show because of cognitive dissonance.

The Script tells them that it takes 40 years to make a million dollars.

If he does it in 90 days, then their belief systems are wrong. And that's impossible.

 

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[Fox]

Don't see how being a billionaire changes the nature of $100 (unless you use your billions to add to the $100), but hey-ho I guess we'll see. Looking forward to updates.

What if it was $10,000 or $100,000 - would a billionaire be able to use that money wiser than the average person on the street to create wealth? Of course.

$100 isn't any different - their whole mindset is optimized to make the most out of anything - money, time, interactions, opportunities.

Give a billionaire any amount of money and they will use that like a sushi chef master uses a knife. Give it to a regular person and they will blow it in 5 minutes.

An even simpler example would be giving the same amount of money to you and your 10-year-old self - your current self would use this money in a wiser way (I hope).

Being a billionaire means you got a billionaire mindset - you think, talk, and act in a certain way. You see things on that level.

Same goes for being a millionaire.

Same goes for being broke.

The $100 just represents choice and options. And a billionaire will make better decisions and use resources better than you will - that's why they are a billionaire.

One good choice will line up the opportunity for more good choices. It will compound.

One bad choice makes the next step even harder - it's a downward spiral.

Take anyone on this forum and put a billionaire in their exact life set up - they will make a million within a year easy.

Every day when you spend anything or use your time on anything you are making choices that will add up to a result.

$100 could be a domain bought and a business plan ready to go.
$100 could be a night out at Joeys Bar ad Grill.
$100 could be five books on marketing.
$100 could be your yearly Netflix subscription.
$100 could be some ads to gauge market demand.

All those $100s are going to add up to either wealth or poverty.

You won't ever get to start using $100k's wisely if you can't start with $100's.

99% of wealth creation is a mindset.

 

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[Fox]

I had thought about a similar concept for YouTube before - drop a web designer (me) in a city with less than $1,000 and you got to survive by selling online projects. Document the whole process and repeat a few times in different regions of the world.

They took things a little further ha.

 

[JAJT]

What do you think @Kak?

Worth investing some time into? Or not far enough yet to confirm?

Obviously I'm not not Kak, but I've read enough first hand accounts to share some details about how many of these shows work behind the scenes.

Here's the short version: Just about everything you see is a lie.

Gasp, shock, I know...

Rather than try to remember them all, I just grabbed some from a reddit thread I remember reading way back when but you can find similar stories all over the place:

Everything on Pawn Stars is scripted too. They bought a Jeep from my friend and he was even told when and how to smile or smirk when giving the interview.

My daughter and her boyfriend were on Divorce court. They were not married, and the shows producers helped them tailor their story (which was completely made up) to be more interesting. They are now married and since they've already been "divorced", it should last forever.

My cousin was on a Toronto dating show called Matchmaker many years ago. She said it was completely scripted and she met her "blind date" before filming so the producers could go over the script with them. They were given a list of ridiculous and racy questions to ask each other and encouraged to make out if they actually liked each other or to cause a scene and be dramatic if they didn't really click.

My aunt and uncle were on "Love It Or List It" they had them record both endings and the network chose which one they thought was best. They are still in the house and they love it, but the show says they listed it.

My friend was on What Not to Wear, and I was in the audience of people who were there to react when she came out from behind the curtain with her new look. She came out over and over again, but our cheering was never enthusiastic enough for the producers. After about 10 takes, we were screaming our heads off, totally hysterical, as if we'd just seen her rise from the dead.

I have worked on several reality shows. Some are more fake than others, but they are all heavily scheduled and formatted, never spontaneous.

I worked on a certain MTV dating show where one of the contestants tried to escape the house in the middle of the night, and one of the Production Assistants had to tackle him in the front yard and drag him back into the house. It's like prison, they are completely cut out from the outside world (no computer, books, phones, watches) and they are fed mostly booze. They all go insane.

I have a friend who signed up to audition for a show that she thought was "The Bachelorette", or something similar. I guess its standard practice to not give the actual name of the show, and just say, "We need good looking, energetic young women for blah blah blah."

So she got called back, went through a few different interviews and a screen test. Finally, they tell her that the concept is that she will be running a Pawn Shop with another woman. She is a dental assistant with no experience remotely related to the Pawn business.

"Pawn Queens" ended up being on for two seasons and they gave her a backstory about how/why she got interested in the pawn business. Not exactly SHOCKING, but it was pretty interesting to see that they basically looked for hot girls first, then put them into a proven concept ("Pawn Stars"-type reality show).

I had a friend on Cash In The Attic in the UK. The idea is that some antique dealers and so on will scout around in your attic/garage/shed and "find" valuable items to sell.

They found precisely F*ck all in my friend's house, so they pulled some paintings and a vase out of the van, "found" them, then asked him to go and get changed so they could film a segment from "after the sale".

It all seems like a complete waste of time, aside from the couple of hundred quid they gave him.

There are some other stories in the thread about what's actually real and what's not being faked and such but I've read similar things in a dozen different places around the web and the one constant is that you're better off assuming what you're seeing is manipulated heavily.

That being said - this billionaire show sounds interesting because even if it's being manipulated, it should be pretty easy to pull out valuable lessons from. Hell even The Apprentice had valuable insights even if the entire show was faked (I don't know how much of it was, just saying that IF it was, there was still value there).

Moral of the story - don't come for the "reality" part of reality shows. They are entertainment first and occasionally you might learn a thing or two along the way.

 

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[biophase]

I love the difference in opinions of the people watching the show.

He's talking to an attorney on the phone about getting a liquor license. True, a poor person wouldn't be able to afford a 15 minute conversation with one.

He finds (or steals) tires are sells them. That might be illegal.

The SBA place let's him do an open casting for team members, as do a local pub. Would a local place really let a person do that? I don't know.

So let me tell you what I learned in this episode.

Call an attorney and let them tell you the rules vs. sitting at home and googling it. He had a phone, I'm sure he could have read all that info. But he's used to asking and paying people for answers and advice. I need to do that more often.

When he found the tires, he didn't even attempt to put them in his truck and drive to another location. Probably because he couldn't pick them up himself. I probably would have been embarrassed to sell them at that location or I would have been afraid that the buyer would have said, "you just found these here and now you want $1500?". But the value he provided was in the finding of the tires, not the presentation or location of the sale. Limiting belief on my part.

I could have hired using an open casting like him. I was thinking, how many people could I have interviewed in the span of one day this way. I would have put something like "looking for people who volunteer at dog rescues."

I don't care that he's not paying for gas, food, etc... How does showing that part pertain to me learning from him?

I watch the show and see him pick up $700 car and sell it for $4200. They don't go over the signing over of the title, no notary, etc... But that stuff is for people that need all the directions given to them. Can you find a $1500 car worth $7000? It's probably pretty hard, but that's not the point. Here's what I learned... Go in a car dealer and see if you can get a trade in car that is going to auction anyway or get lucky and find a run down used car lot and offer to move cars for them. These were things I've never thought of.

The rest of the people can call BS... and they can also stay poor.

 

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[Actionary]

Great premise. Make a million dollars from scratch. In 90 days. From $100.

Instead of just watching this guy on tv, why don't we make this a forum challenge?

 

[Andy Black]

interesting

View: https://www.youtube.com/watch?v=x5hQMA4IXlY

Yeah. Very interesting. The first thing he thinks when he hits that city?

• “What does this city need?”

He also wonders immediately how to build a team that would buy into his vision. @Kak often mentions how important leadership is.


Also... at the end of the video his wife summarises why her husband is a top businessman:

• “He never gives up.”
• “His word is his bond.”
• “He does a deal on a handshake.” (The cowboy contract.)
• “He’s a maverick who’s got old fashioned values.”
• “He works longer hours than everyone else.”
• “People trust him.”

 

[Rawseed]

I just finished the second episode.

So many entrepreneurial lessons in the first two episodes.

• Address your basic needs first so you have the mental space to focus on starting and growing your business.
• Focus on Ramen profitability.
• Forget the frills.
• Find your buyer first. Then find/create the product.
• Find a need then fill it.
• Look for industries/business models that are working.
• Shortcut domain experience by talking to people who have it.
• Learn everything about the business/industry you're trying to enter.
• Ask. Ask. Ask.
• Action. Action. Action.
• Don't be afraid to hear no.
• Buy low and sell high.
• Reinvest all profits back into your business.
• It's easier to ask forgiveness than it is to ask permission.
• Don't ask whose going to let me. Ask whose going to stop me.
• When you need capital, there is no job beneath you.
• Surround yourself with people smarter than you.
• Build a team. Leverage human capital.
• A leader's job isn't managing. It's inspiring. It's creating a believable vision. It's motivating your employees to follow you.
• Empower your team.
• Appear confident, even if you aren't.
• Don't appear desperate, even if you are.
• Look for free resources.
• When negotiating, always leave enough on the table so the other person feels like they got a deal.
• Learn how to negotiate.
• Learn how to sell.

If you're watching this series and thinking that you can't do what he's doing. You're 100% right.

I'm glad I don't think like that.

 

[Vigilante]

The messaging in the show was fantastic, regardless of how much of it is staged. Kind of hard to not know it is staged when a camera crew with a boom mic is following his journey. However, the cutaway camera shots where he talks into the camera and espouses some business strategy principles is excellent. His first idea was excellent, and the process of a few days worth of hustle. The previews at the end of the upcoming episodes foreshadow pieces of what he did. As KAK said, he isn't going to generate a million dollars in 90 days. He is working towards generating a million dollar valuation, significantly different.

People have commented that nobody here has done that. I beg to differ. I have one person here in mind that will remain nameless (not me) that damn near probably hit a million dollar valuation in 90-180 days, starting with more than $100 but way less than $50k.

My business scaled way slower, but it is because I didn't apply hyper growth initiatives to it. I think this is a fun show, and certainly a better diversion than watching some loser get thrown off of the bachelorette.

Thanks for the heads up @Kak

 

[Vigilante]

Loved this second episode. Loved @biophase recap and I really don't have much to add. The stuff he is doing though is simple blocking and tackling so far. How simple? This simple... I paused the show before he got to the car scene, and asked my elementary school daughter :

"If he had some money and wanted to buy something and then sell it for more to make some extra money, what do you think he should buy?"

and her answer : "A car!"

And she was thrilled when that's exactly what he did. Twice. Did she see a preview? Maybe. Did she take in the lesson? Yes. Does she, at a fraction of your age, understand the value lesson beyond the theatrics? Yes.

It's that simple folks. The show isn't about getting you a million dollar valuation in 90 days. It is closer to the hustle thread here on the forum.

@Kak was laughing yesterday on the phone with me because while several were posting on the forum and specifically on this thread, I was downtown in Tampa hustling and meeting business owners for networking, and buying and selling some stuff, and basically doing what the Undercover Millionaire was doing, unintentionally. It's just who we are. It's just what drew you to this forum. It's just who you and I might become. It's what almost everyone that frequents this forum is hardwired to do.

Those of you on the couch... get up off the couch. Consider this your own entrepreneurial C25K. Push past fear. Start.

 

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[Kak]

I hate people.

If there is ONE SINGLE thing I have noticed about you privately it is that you don't hate people. You love people. You literally add value to people's lives in everything you do. It is your default condition. When you enter a room, you give. I have never seen you take.

You go out of your way to meet with and get to know the cigar manufacturers in the area. You help people, including myself, start Amazon businesses. You are probably indirectly responsible for over 10m worth of income of forum members.

The funny thing is that you do have a team... Jorge, Nancy, Paul, me when you need me... Just for the business I know about. They don't have to be W2 employees to be part of the story, part of the team. By agency, you have leveraged the time and efforts of people beneath them that you have never even met. You have a team. And a damn good one at that.

Ladies and Gentlemen... I used to be a proud people hater. I have learned recently that it is a limiting belief. We should all strive to love people the way @Vigilante does. Because it is the very mark of a good leader.

 

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[maverick]

When a TFL member posts their process on setting up a new business:
"Where is the proof? I want to see your bank account!"

When a billionaire sets up a new successful business:
"Money makes money. He is only successful because he already has enough money!"

When a billionaire sets up a new business with only $100 in his pocket and no way to use his/her past experiences and network:
"It's staged!"

Is this you? Stop limiting yourself. Have a learning mindset: read, watch and interpret.

 

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[Rawseed]

Really enjoyed the episode. Lots of takeaways.

For business:

• There are always going to be obstacles to overcome.
• Not every deal will go the way you expect it to.
• Get creative.
• Keep getting up.
• Figure it out.
• Be ready to pivot.
• If there's an obstacle in your path, bypass the obstacle and find an even better path.
• Spend more time on action.
• Spend less time thinking.
• Own your mistakes.
• Never let them see you sweat.
• If you can control yourself, you can control the negotiation.
• Don't celebrate the highs too long.
• Don't sweat the lows too long.
• You're never too old to start a business.
• Know your time schedule.
• Know your start-up costs.
• Keep your focus on the next step.
• Do your due diligence before starting your business.
• Validate your business idea before starting your business.
• Just because you have a great idea doesn't mean it's great for the market.
• Plan to create and cultivate a brand.
• Understand your market.
• Ask the market what it needs.
• Fill a need or a gap.
• Don't create a me-too product or service.
• Plan and structure your business for scale from day one.

For leadership

• Surround yourself with experts.
• Look for team members that can help you with multiple things.
• Look for people with networks, valuable skills, and/or growth mindsets.
• Share your story with your team.
• Share your dream, vision, and plan with your team.
• Sell a big vision and big dream.
• Look for intelligent, high energy, optimistic, hardworking team members.
• Ask your team members for their opinion.
• Look for ways to get team buy-in.
• Be honest with your team.
• Show appreciation to your team.
• Get your team focused on action.
• Let your team know and understand your timeframe.
• Motivating is one of the biggest hurdles in business.
• Push them to be better without knocking them down.
• Motivate by showing them instead of telling them.
• Apply peer pressure by applauding the work of team members doing the right thing.
• Be a servant leader.
• Let your employees feel like you work for them.
• Empower your team members.
• Give your team members deadlines.
• Give your team members important work to do.
• Show your team members that you believe in them.

 

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[Fox]

If you became a billionaire over 20 years you would be used to making around 4.2 million a month (averaged evenly).

For a billionaire to make one million in 90 days should be handy enough for them.

BUT you can bet that whatever way they did do it “they had an advantage” (cue poverty mindset folk). It will be that they had connections/industry knowledge/deal skills/specific skills.

The average person can’t accept that wealth can be created that fast. It’s just beyond their reality.

Not saying this TV is 100% legit but more that a billionaire could complete that challenge easy.

 

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[GSF]

Just been reading about this guys background, seems the odds were against him being successful in life;

-raised in poverty
-dysfunctional family both parents alcoholics
- teenage pregnancy- became a dad at just 14 years old!!! his gf was 17!
-dyslexic, struggled at school.

He's just recently recovered from cancer which inspired him to do the show.

 

[Dan_Cardone]

Just going to throw this out there as it relates to the current direction on the discussion....

As a business consultant who has worked with many self made millionaires I'll just say this: Whatever excuse you have, or have heard anyone else use, someone with a worse situation made the decision to be successful and succeeded.

I'm constantly amazed at some of the obstacles many of my clients have had to overcome. Amazing.

If you live in the USA or Europe and have an IQ of 95+, you really don't have many legitimate excuses for not living up to your potiental.

 

[Ecom man]

Once someone has the right mindset they will see opportunities everywhere they go. To me that is the biggest takeaway from the show so far.

I recently took my family to an event that was geared towards kids in the local area. That event had thousands of people there... and had 3 venders besides food sellers... 3! and their variety consisted of 3 separate items!

I spent all day (while waiting in lines) writing down products that would sell, looking up prices on dhgate, aliexpress, etc. and compiling a list of workable items. 2 days later I contacted the person running the event and asked them about being a vender for next years event. I then went on Facebook... and found 20+ similar events that were niche specific and would lend themselves easily to carrying specific products.

This could literally be done by anyone who has a credit card and lives anywhere close to a city. Find niche events, get a location at that event, order items from China (or the dollar store like the guy on the show did) and profit.

Many people who watch this show will keep making excuses why they can’t do it just like they made excuses before they spent an hour watching the show.

 

[SteveO]

but want to see a more level playing field.

I grew up poor. My family lived on welfare. I was kicked out of school by the age of 16. Moved out of my house around the time I turned 17 and never went back. Went on to make a few million.

I am a risk taker. Always have been. I also look for angles that help leverage. Nobody that knew me thought that I would succeed. I did not listen to them though.

Your way of thinking does not match this forum.

 

[Rawseed]

I enjoyed Episode 5.

The previews for Episode 6 look very interesting. Looking forward to next week.

Most of my takeaways could be found in previous episodes. But, repetition is the key to engraining information into the subconscious.

• Hire a professional to fast track your education.
• Surround yourself with people smarter than you.
• Surround yourself with people who are strong in the areas that you are weak.
• Hiring professionals allows you to use money to buy time.
• With every setback, keep moving forward.
• Don't be afraid to ask for help.
• Teach your managers to be leaders.
• Teach your managers to be aggressive, assertive, self-starters
• Set your own table. Don't wait for someone else to do it for you.
• Don't wait for the perfect opportunity to fall into your lap. It never will.
• Let your team know that you're working as hard as they are. If not harder.
• Let your team know exactly what you need them to do.
• Coach your employees up.
• To be successful, you have to be an aggressive, assertive, bulldog.
• You'll never be successful by being passive.
• Show your team that you're passionate and that you care.
• Don't let setbacks kill your confidence.
• Learn from your setbacks.
• Let your team know about your setbacks and your plan going forward.
• Use setbacks as an opportunity to find an even better option.
• Celebrate the small victories.
• Have fun along the journey.
• Don't spend time fighting battles when there are wars to be fought.
• The most important aspect of your marketing and your brand is your company's story and narrative. Your why. Why do you exist? Why were you created?

 

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[million$$$smile]

it is still a lean start.

Ha ha. For some, replicating a million dollars WITH a million dollars is a lean start!

 

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[MTEE1985]

Toward the end when he is selling the St. Patty’s swag he makes a comment that cannot be overstated: “there is no difference between negotiating a $500m credit line and a $5 piece of plastic.” I have heard countless people with enormous success echo this sentiment. The stress will always be there regardless of the number of zeros so add more. Put another way: GOLD! - Think big and then think bigger than that.


Also, when he’s trying to sell the dog toys he mentions how uncomfortable he is but he keeps trying. Again, I have heard countless people expound that getting out of your comfort zone is a necessity to both success and a more fulfilling life.

 

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[Kak]

Whoa. That sounds awesome.

This review doesn't seem too flattering though:

View attachment 26484

What do you think @Kak?

Worth investing some time into? Or not far enough yet to confirm?

I think bitching about how much gas he is using won't matter.

I bet he can do it.

Even if he got a grand and a truck, it is still a lean start.

 

[Kak]

Also, when he’s trying to sell the dog toys he mentions how uncomfortable he is but he keeps trying. Again, I have heard countless people expound that getting out of your comfort zone is a necessity to both success and a more fulfilling life.

That really impressed me. I have always considered myself as a "nothing is beneath me" type of guy. That scene had me impressed. At the time I watched the show, no part of me would have even tried to sell those dog toys at a dollar profit per unit.

Thinking it through, it is the willingness to try, even something so small, that is a basic foundation of success.

 

[Kak]

My initial thought on the "American Dream is Dead" mindset was yay! Because, ideally it means more wealth for those of us who know it's alive and well.

The difference is that wealth isn't finite. It is not capped. It is created.

If everyone does better, everyone does better.

This is NOT an argument for redistribution... More like: If everyone knew that they could make something out of themselves, and tried, everyone would be better off, including the people that already did.

 

[GPM]

I have only watched the first episode so far, but watching people's reactions on here compared to what I see in the show has been priceless.

My favorite observation at this point is from whoever (I am not going back to look) was saying it was all staged because Glenn knew he was going to Pennsylvania based on there being snow on the ground. Meanwhile it literally zooms in on the GPS in the plane and shows them landing in Pennsylvania... it is like some people are instantly wired to just hate everything.

A close second is getting mad about him selling goods in a bar. Maybe it is different in Canada, but I don't see the police banging down the doors up here to shut that down. Tattoo face with Glenn also clearly was a regular at that bar as he seemed to know most everyone by name. So if stranger Glenn shows up with a regular and wants to sell merch at a bar with a regular, I don't see that being an issue.

This is also not shot chronologically. The voice-overs and monologue shots are not shot sequentially. So anything with that, or even footage from the show itself, is not necessarily all shot in order. It has all been edited together for maximum effect. So that needs to be taken in to consideration as well.

Overall, I had a HUGE takeaway from that whole "find your buyer" first. I am in a current situation where I know exactly what a customer wants, and they are even going to bid on something in 2020. So we have our buyer and know what they want, and are going to be part of that bid. Now time to get everything in order to make that work.

My wife and I have very different tastes when it comes to what we watch, and we both had a ton of fun watching this, and we had a great discussion during and after the show. So that alone is a MASSIVE win from this. Well worth the time spent watching it. It is hard to sometimes get my wife involved with how I think when it comes to business, so this show has been a great catalyst for driving this. To say I am excited to watch the rest of it with her is an understatement.

 

[AgainstAllOdds]

Whoa. That sounds awesome.

This review doesn't seem too flattering though:

View attachment 26484

What do you think @Kak?

Worth investing some time into? Or not far enough yet to confirm?

After watching the first episode, I can say that this review is dumb.

The show has some good takeaways. The individuals that wrote the show definitely have proper business background (whether that's the billionaire guy or not), and the principles they're teaching are worth learning.

 

[biophase]

Just watched it yesterday. I think the $100 that he is starting with is pretty irrelevant to what is being taught. I'm sure what's going to happen is that it will take him a little longer because he has to now build up more seed money.

He has to cover living expenses first, then build up some seed money and connections, so there will be more episodes. If they set him up with a 90 day apartment and $1000, he wouldn't be looking for tires and iron gates. He would be trying to flip cars and then houses. If he was set up with $10,000, he'd probably buy into a business and scale it.

But the purpose of this episode is to show his thinking and hustle at all money levels. I'm sure in the later episodes he is going to end doing this like Marcus Lemonis does in the profit.

 

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[Kak]

Uh huh, thanks for the ad too...TV sucks, literally

Ok, thanks for your valuable opinion.

So simple, yet so profound. I can already tell you are going to be a stand out member here.

It is not as if I am advocating for some mind rot netflix binge for crying out loud. The premise of this show is educational and it has entertainment value.

Let me ask you a question Patrick... Would you watch a Ted talk or do those suck literally too?

Also do you know what literally means?

 

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[Vigilante]

Uh huh, thanks for the ad too...TV sucks, literally

What a GREAT second post. The value you have added here since you joined in 2016 has been nothing short of spectacular. Since you average a post every two years, I look forward to your next tidbit of wisdom in 2021.

I have never seen a TV suck, but if you say it literally does I have no reason to doubt you, but I would like to see a video if you care to back up this assertion.