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

Vigilante

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More motivation for RJ to continue building an empire. He's already proven that he's capable of kicking a$$ and the more equity he has the more incentivized he'll feel to build it even further.

I was actually surprised he only offered him 10%. Offering him 10% makes sense within the context of the other members being offered equity, but since only 2 accepted, I think 20% would have been more appropriate.

But then again, Glenn can hold it out strategically and offer him more down the line once he sees how involved RJ continues to be as the business progresses.
I thought like you for a long time, until I had a chance to validate my own thinking. I paid what in retrospect was an aggregious percentage to the workers, and the productivity increase that I got as a result was exactly 0. I can tell you from first-hand experience that your hypothesis is incorrect.
 

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Vigilante

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I haven’t finished the series yet but I have them all recorded. Watching them with my youngest daughter when opportunity permits. I’ve skipped a lot of the episode specific comments in this thread until I get caught up.
 

ChrisV

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I thought like you for a long time, until I had a chance to validate my own thinking. I paid what in retrospect was an aggregious percentage to the workers, and the productivity increase that I got as a result was exactly 0. I can tell you from first-hand experience that your hypothesis is incorrect.
Well yea, I think I saw your post a while back about paying employees more money, thinking it would lead to increased productivity; which didn't work. Still I'm not sure. I at least it makes intuitive sense someone would bust more a$$ when they own 20% vs if they only owned 10%. Whether that works in practice is complex and really outside the scope of this thread.

For anyone interested in the complex relationship between 'more pay' and 'more work' this is a good overview:

RSA ANIMATE: Drive: The surprising truth about what motivates us
 

lowtek

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Well yea, I think I saw your post a while back about paying employees more money, thinking it would lead to increased productivity; which didn't work. Still I'm not sure. I at least it makes intuitive sense someone would bust more a$$ when they own 20% vs if they only owned 10%. Whether that works in practice is complex and really outside the scope of this thread.

For anyone interested in the complex relationship between 'more pay' and 'more work' this is a good overview:

RSA ANIMATE: Drive: The surprising truth about what motivates us
My uneducated thought is that it wouldn't work due to the mindset delta between an employee and an owner. Giving someone an equity stake won't shift their employee mindset to an owner mindset, and hence it's not going to have the desired effect.

There is also little downside for the employee. They get a guaranteed income, but an owner doesn't eat unless the enterprise is profitable. Sure the employee may lose a job if the business collapses, but I don't think many people wargame their career. Otherwise, they probably wouldn't be employees :)
 

Dan_Cardone

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I really enjoyed the show and would love to see new seasons wit different billionaires taking the same challenge.
Id like to see a modified sexond season where Glenn coaches several people who are trying to do the same challenege and see who makes the most successsful business in 90 days.
 

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Id like to see a modified sexond season where Glenn coaches several people who are trying to do the same challenege and see who makes the most successsful business in 90 days.
with @Kak as a contestant
 

Sadik

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I kept reading comments here and finally tuned it on and binge watched it. And I am SO glad I did.

The show was really wonderful. Yes, I understand Glenn's super power were the camera crews. Yes, there were probably some pre-scripted parts, but there's no denying the true lessons. Watching the show was like attending a business school training with a mentor. There were so many good lessons.

In fact, here's how the show has helped me directly. I have been coding an online service for about three months now. My plan was to finish a MVP and then get into marketing. However, of all the nuggets of wisdom Glenn dropped, the one that has stayed with me was when he says something to the effect of "Always find your customer first and then work backwards from there".

This had me thinking. The last software product I had built required thousands of man hours and was beautiful code. BUT, it sold nowhere as much as I hoped. The market was very small. Eventually I had to close sales. This time my plan was to build only MVP and then gauge interest. But Glenn's words made me think why even build a MVP. I can build an MVP in a couple more months, so I might as well find customers NOW.

SO, I have stopped coding and intend to build a marketing campaign. If I am wrong and I can't get enough people interested, I will drop the service and look for something else. And I am being honest when I say this, I had this epiphany while watching this show. Sure I knew the concept but something about the way Glenn said it stuck with me.

I wish there was more of the show.
 

ChrisV

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Yes, I understand Glenn's super power were the camera crews.
Nah, that's what we thought at first, but after speaking to the cast they actually had no idea this was going to be on Discovery. They just thought it was some stuff for YouTube. I'm not even sure Glenn knew. He might have just taken the footage and sold it to Discovery afterwards.


Yes, there were probably some pre-scripted parts, but there's no denying the true lessons.
I don't even think that's the case. That's what we all thought at first but after speaking g with the guys from the show I really don't think that anymore.

But great post.


I wish there was more of the show.
They said there's a ton more footage. I'm hoping they release it.
 

Sadik

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Nah, that's what we thought at first, but after speaking to the cast they actually had no idea this was going to be on Discovery. They just thought it was some stuff for YouTube. I'm not even sure Glenn knew. He might have just taken the footage and sold it to Discovery afterwards.
Sure they probably didn't know about Discovery but would have had some idea that there will be some kind of a payday at the end. I am not attributing any selfish motive on anyone at all. I loved watching them, just that Matt had mentioned how he had bills to pay, mortgage etc and for someone like that to start to work for absolutely free for a person who he has no idea about is a bit hard to believe.

I don't even think that's the case. That's what we all thought at first but after speaking g with the guys from the show I really don't think that anymore.
I think the later parts were definitely not scripted. But in the start when he finds that expensive tyre and just sells it for 1400 was a bit hard to swallow. I haven't been to the US, do you guys have stuff like that lying around in your industrial towns? Are there such willing buyers for old stuff? Anyways that's nitpicking though and it takes nothing away from the fact that it was a wonderful show.

But great post.
Thanks man. Appreciated.

They said there's a ton more footage. I'm hoping they release it.
I will watch it if it ever comes out.
 

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MJ DeMarco

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I enjoyed the final episode.
Finally watched it last night.

I too was a bit miffed at the amounts offered for his team. As a billionaire, he makes that kind of money in interest in just a day. I would have thought the amounts would have been steeper and more life changing. Their reactions seemed to indicate they were OK with it.

Anyway, nice feel good ending. Mission accomplished for the right audience, a terse triggering for the wrong one ha ha.

Will be interesting to see if the concept moves nationally, and what becomes of it. The two who accepted ownership interests seem to have their heads on straight with a lot of potential.
 

Knugs

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Id like to see a modified sexond season where Glenn coaches several people who are trying to do the same challenege and see who makes the most successsful business in 90 days.
I'm hoping the same! I hope this program continues somehow.
 

GPM

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just that Matt had mentioned how he had bills to pay, mortgage etc and for someone like that to start to work for absolutely free for a person who he has no idea about is a bit hard to believe.
;)
 

Dan_Cardone

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Finally watched it last night.

I too was a bit miffed at the amounts offered for his team. As a billionaire, he makes that kind of money in interest in just a day. I would have thought the amounts would have been steeper and more life changing. Their reactions seemed to indicate they were OK with it.

Anyway, nice feel good ending. Mission accomplished for the right audience, a terse triggering for the wrong one ha ha.

Will be interesting to see if the concept moves nationally, and what becomes of it. The two who accepted ownership interests seem to have their heads on straight with a lot of potential.
According to Forbes hes not a billionaire. But who knows how accurate Fobres really is when it comes to that stuff.
 

GPM

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I too was a bit miffed at the amounts offered for his team.
It was not some crazy life changing amount. However, most of these people worked for him for roughly 2.5 months, and those cheques probably equaled more take home money than they would have received in 6 months. So yea, it could have been a really big deal for them.
 

Beijing

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I kept reading comments here and finally tuned it on and binge watched it. And I am SO glad I did.

The show was really wonderful. Yes, I understand Glenn's super power were the camera crews. Yes, there were probably some pre-scripted parts, but there's no denying the true lessons. Watching the show was like attending a business school training with a mentor. There were so many good lessons.

In fact, here's how the show has helped me directly. I have been coding an online service for about three months now. My plan was to finish a MVP and then get into marketing. However, of all the nuggets of wisdom Glenn dropped, the one that has stayed with me was when he says something to the effect of "Always find your customer first and then work backwards from there".

This had me thinking. The last software product I had built required thousands of man hours and was beautiful code. BUT, it sold nowhere as much as I hoped. The market was very small. Eventually I had to close sales. This time my plan was to build only MVP and then gauge interest. But Glenn's words made me think why even build a MVP. I can build an MVP in a couple more months, so I might as well find customers NOW.

SO, I have stopped coding and intend to build a marketing campaign. If I am wrong and I can't get enough people interested, I will drop the service and look for something else. And I am being honest when I say this, I had this epiphany while watching this show. Sure I knew the concept but something about the way Glenn said it stuck with me.

I wish there was more of the show.
You need to read Nail It, Then Scale It by Paul Ahlstrom and Nathan Furr. Your thinking is in a similar direction, but Ahlstrom and Furr take it one step further by building your product alongside the target customer.

Doing so can help you better define what your target customer will be willing to actually give you money for. My favourite part of the book gives an example of some entrepreneurs playing the $100 Game with some university committees. By doing so, they learned that while the product they had envisioned had dozens of features, their target customer only really cared about three of them.

Initially, when showing potential buyers a demo of the product they hoped to build, the buyers were only willing to pay a small fee for the product. However, when they later showed potential buyers a similar demo with ONLY the three features that they had discovered were the most desirable, they were willing to pay far more money for the product.

The original demo had included these features, but due to offering too much, the perception of their value was clouded. By better defining the product, the target customers were willing to actually pay more for it, because they could better see the value.

This is the opportunity offered by building a product alongside potential buyers, as opposed to building a MVP first or even launching a marketing campaign. Instead, start a conversation with potential buyers, show them a demo of the solution to a problem you believe they have and then let them tell you what they want so that you can build it.
 

daivey

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I'm gonna give it a pass - everything on TV is fake. But I'm sure lots of people will actually believe they can start a million dollar business in 90 days with only $100.
yeah right, I'd like to see all those 90 day millionaires!!!
queues next thread:
90 millionaire challenge!
 
Last edited:

daivey

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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.
This doesn't make any sense. If you become a billionaire in 20 years, usually multiplication near the END is what multiplies that wealth.
What does that mean?
It's alot easier to get to $1 billion in year 20, when year 18 is $500 million.
Your average doesn't make sense and not reality.. Bill Gates is a billionaire today... That doesnt meant he was averaging $4million a month in his early days when things wer egetting off the ground.
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.
I like how so many posters over-simplify the "poverty mindset folk"... You don't think there are advantages? Both natural (e.g. higher IQ), and environmental?
I doubt you grew up in poverty....... you need to walk before you can run.

The average person can’t accept that wealth can be created that fast. It’s just beyond their reality.
Disagree.
I think most people are not as naive as you paint them with your broad brush strokes. Because you're on this forum, you're enlightened? Really hate that attitude.
I think people do believe that wealth can be generated quickly.... what I also think is that the average person just doesn't believe THEY CAN BUILD IT THAT QUICKLY..... See the difference?
You, and others on this thread, area removing other key elements from the equation.. Most people, "average", have bills to pay, and jobs to get too, or families to tend to.. So it's not as easy as dropping everything in pursuit of a business that could fail.

Not saying this TV is 100% legit but more that a billionaire could complete that challenge easy.
The key element that is missing is "risk".
Worst case, the contestant loses....they don't get evicted, or starve, or having a baby crying at home..
Someone put in a situation where there is ZERO downside can take on substantial risk that they wouldn't in real life. That means taking on bigger bets....
Sure the guy might want to win, but ultimately, they won't be homeless or starving, or having a baby that needs food during this challenge.
Sure, they still need to take calculated risks, but, there is more range to that risk than otherwise....
 

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Tiago

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I read through page 1 but don't want to see too much talk about the show as I'm going to give it a watch, thanks for the recommendation @Tiago !

Has the series ended now?
Yes it has ended. Watch the show and see how he creates a team.
 

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