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GOLD! Think big and then think bigger than that.

Kak

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After an in depth discussion about a facet of the medical industry with one of my Kill Bigger incubator folks. I want to give a book recommendation of very high praise for some very interesting reasons.

The book... Bad Blood: Secrets and Lies of a Silicon Valley Startup.
https://www.amazon.com/dp/152473165X/?tag=tff-amazonparser-20

It documents Theranos, a blood testing startup and entrepreneur Elizabeth Holmes.

It undoubtedly tells the story of reprehensible lies and deception, however it also shows effective and ineffective leadership synchronously.

What interests me in stories like these about schemers like Bernie Madoff and and drug dealers like Escobar. The brain behind the operation could have been highly successful in a legitimate venture.

In Elizabeth’s case, what she actually built, a world class team, a portfolio of investors, and countless interested customers, was amazing visionary leadership. She alone attracted money and talent. (Because there wasn’t much of a product) This is leadership.

She was also an a**hole to her team and created a toxic environment later on. Eventually we find that the whole concept was unproven and the investors, customers, and stakeholders were lied to at various stages in the process. Shit leadership.

For the startup phase if you take Elizabeth’s model, add a great product or service, subtract the deceit, you too can build something bigger than you, from zero to one, on visionary leadership.
 
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Kak

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“Why not?”

I have to admit something to the forum. It is not something I am proud of... but nonetheless here goes... I, Kak, have limiting beliefs.

What? I'm supposed to be the "think big" guy. Yeah. I don't think big enough.

Anyway, I thought I should take my own advice and share a few things. I take pride in the fact that I am a PRODUCER FIRST and a consumer distant second. The problem is, I find myself OFTEN limiting what I think I will be willing to buy despite my business, one day, potentially letting me afford something far more expensive. I am not saying expensive is better... Oh wait it is.

It goes a little like this... “I could never have a Rolls Royce because I drive 30k miles a year and I would trash it. They don’t last long enough.”

“Why would anyone buy/fly a G6 they’re 60 million dollars and they cost 8k an hour to run. I can get a Cessna CJ from 1989 that only costs 900k and 850 bucks an hour.”

“I would never buy that car new, that’s just stupid.”

“I can get more house for my money in this neighborhood than this one.”

“10 million dollar homes? What the hell would I do with all of that room?”

What it boils down to is lying to myself. It is the same damn thing as someone with no money saying “I don’t care about money.” It is crap.

Would I rather change the world than not? Yes. Do people change the world? Yes. So it is possible? Yes.

Would I rather have a G650 than a 1980s Cessna Jet? Yes. Do people own G650s? Yes. So it is possible? Yes.

Would I rather pick everything about my car? Make it new? Make it a Rolls Royce? Yes. Do people buy them new? Yes. So it is possible? Yes.

Would I rather live in a stately 10 million dollar manor than a 1m dollar house? Yes. Do people actually buy these homes? Yes. So it is possible? Yes.

So they make mansions, Rolls Royces, exclusive country clubs, yachts, and Gulfstream Jets for someone... There are people that are literally buying them every day... Why not me? Why not you?

Why not? I think that is a good question to start asking.

Whether I actually buy crap like this or not... I want to not have a problem affording said item.
 

MTF

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It goes a little like this... “I could never have a Rolls Royce because I drive 30k miles a year and I would trash it. They don’t last long enough.”

“Why would anyone buy/fly a G6 they’re 60 million dollars and they cost 8k an hour to run. I can get a Cessna CJ from 1989 that only costs 900k and 850 bucks an hour.”

“I would never buy that car new, that’s just stupid.”

“I can get more house for my money in this neighborhood than this one.”

“10 million dollar homes? What the hell would I do with all of that room?”

What it boils down to is lying to myself. It is the same damn thing as someone with no money saying “I don’t care about money.” It is crap.
I'd like to add that for some people (particularly those who don't care about living a billionaire lifestyle) these are actually not limiting beliefs. It's just how you perceive the world and value, something closer to maths and life philosophy than the mindset.

For example, I would never pay $500 for dinner. It doesn't matter if I can afford it or not, I just consider it ridiculous to spend so much money on something I don't care about that is highly unlikely to be that much better than a $50 dinner.

As for something like spending $60 million on G6 or 900k for a Cessna, I'm not a billionaire so this is probably beyond my understanding, but would spending almost 67x more money result in a 67x improvement, or even at least a 10x improvement? If not, I'd venture out to say that it's a bad deal no matter if you can afford it or not.

Obviously, for some people $60 million is like $600 for another guy, so maybe at this level they just don't look at value in the same way. Still, I think that a lot of people, even when they're wealthy, want to get the most value for the money. Like everyone else, they don't want to be overcharged or get little additional value after spending several times more than a regular person.

Also, beyond maths, unnecessary spending is wasteful. If you truly want to live in a $10 million mansion, I have nothing against it at all. But a lot of people just wouldn't use 90% of the rooms of the area and so they would greatly overpay for what they actually use. The question whether they can afford it or not is yet again irrelevant. The point is that they spent $10 million where spending $1 million might have been sufficient, and they'd have $9 million to spend on other things that would give them more utility or value in any other form.

In the same way, it makes little sense to buy expensive stuff that you're only going to use once a year (like a yacht) or go to a restaurant, order six meals just because you can, and then eat only one.

But just to emphasize it one last time, this is highly personal. I genuinely don't want to live in a huge mansion or drive a luxury car so I have a different perspective on this. Not a better one, just different. Yours is just as reasonable considering that you really do want these things. You operate on a different level than most people here and if you think that these are limiting beliefs, then you're probably right.
 

Kak

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I'd like to add that for some people (particularly those who don't care about living a billionaire lifestyle) these are actually not limiting beliefs. It's just how you perceive the world and value, something closer to maths and life philosophy than the mindset.

For example, I would never pay $500 for dinner. It doesn't matter if I can afford it or not, I just consider it ridiculous to spend so much money on something I don't care about that is highly unlikely to be that much better than a $50 dinner.

As for something like spending $60 million on G6 or 900k for a Cessna, I'm not a billionaire so this is probably beyond my understanding, but would spending almost 67x more money result in a 67x improvement, or even at least a 10x improvement? If not, I'd venture out to say that it's a bad deal no matter if you can afford it or not.

Obviously, for some people $60 million is like $600 for another guy, so maybe at this level they just don't look at value in the same way. Still, I think that a lot of people, even when they're wealthy, want to get the most value for the money. Like everyone else, they don't want to be overcharged or get little additional value after spending several times more than a regular person.

Also, beyond maths, unnecessary spending is wasteful. If you truly want to live in a $10 million mansion, I have nothing against it at all. But a lot of people just wouldn't use 90% of the rooms of the area and so they would greatly overpay for what they actually use. The question whether they can afford it or not is yet again irrelevant. The point is that they spent $10 million where spending $1 million might have been sufficient, and they'd have $9 million to spend on other things that would give them more utility or value in any other form.

In the same way, it makes little sense to buy expensive stuff that you're only going to use once a year (like a yacht) or go to a restaurant, order six meals just because you can, and then eat only one.

But just to emphasize it one last time, this is highly personal. I genuinely don't want to live in a huge mansion or drive a luxury car so I have a different perspective on this. Not a better one, just different. Yours is just as reasonable considering that you really do want these things. You operate on a different level than most people here and if you think that these are limiting beliefs, then you're probably right.

Good points, I must admit. Let me rephrase it then...

Let’s say these items were free. Life, for the sake of argument, is all inclusive. You could pick the way you travel. You could pick the car or cars you drive. You could have dinner wherever you want. You could just drive around and pick a home, any home, and just move in.

What would your life look like? How is that different that what you limit yourself to in your real life goal setting? Why the delta?

That is really more the point I am trying to make.

Don’t tell me you would rather fly the airlines than driving up to a big beautiful jet and leaving for your destination in 10 minutes.
 
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MTF

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Don’t tell me you would rather fly the airlines than driving up to a big beautiful jet and leaving for your destination in 10 minutes.
Ha that is one aspect of being a billionaire that I do think is definitely worth it as it's not like driving an expensive car and drawing attention to yourself wherever you go.
 

MTEE1985

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I'd like to add that for some people (particularly those who don't care about living a billionaire lifestyle) these are actually not limiting beliefs. It's just how you perceive the world and value, something closer to maths and life philosophy than the mindset.
Absolutely correct. There is a distinction that has to be made though: Are these things a viable option for them and they truly are not interested as is the case with you? Or do they actually want these things but believe they’ll never be able to get them so they try to justify that with saying they never wanted them to begin with? (Horrible run on sentence, I know, I apologize to the author in you who is cringing at that)

You’re both addressing the same very important thing albeit from different angles: freedom.

For example, I would never pay $500 for dinner. It doesn't matter if I can afford it or not, I just consider it ridiculous to spend so much money on something I don't care about that is highly unlikely to be that much better than a $50 dinner.
Story time...I was with a group of guys from our golf club in Vegas a few years ago and one of them planned this over the top, world renowned chef, $800 bottles of wine dinner. Funny enough, the tab at the end of the meal came to roughly $500/person. This is by far the best meal I have ever eaten. Not the point I know. The point is that you do not indulge in $500 meals by choice even though we all know paying for one would not impact your lifestyle one bit.

On the flip side is the dangerous and ever so present garbage in the media that @Kak is referring to where people try to conceive themselves they don’t want these things when in reality they do, they just cannot afford them and have been told they’ll never be able to.

Personally, I want a bigger house with an even better view, I want a beach house in New England and I want to write St, Jude’s a check for a million dollars. Will these goals change in 5 years? Maybe, but if they do, I want that to be by choice and not because they are an economic impossibility.

I am fortunate to know people who have big planes, little planes, no plane, one house or 4 houses. What they all have in common is that whatever they do or do not have, it is because they chose that. Will @Kak ever buy a $50,000,000 plane? Maybe, maybe not, but if I were betting, I’d say it’s because he chooses not to, not because he won’t have the means and ability.

Let’s say these items were free. Life, for the sake of argument, is all inclusive. You could pick the way you travel. You could pick the car or cars you drive. You could have dinner wherever you want. You could just drive around and pick a home, any home, and just move in.
Nicely said. This exercise will get people started on the path to where they truly want to be, not just where there family, friends, government and media tell them they should be.
 

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In terms of limiting beliefs, there is not only the issue of what you can HAVE but also what you can DO. Personal sovereignty.

I used to drink alcohol on a more than regular basis, none at all for the past 3 months. When people ask me about it, most often they say "I could never do that." Really? Never?

I thought my running days were way behind me. After losing 30 lbs. and a daily routine with gradual improvement, my 5k times are getting better than I previously thought possible. I can see my abs starting to make an appearance for the first time since my early 20's.

Spoke for an hour and a half in front of 200 people at a conference yesterday. Really had fun with it and received tons of positive feedback afterwards. Probably wouldn't even have considered the invite a year ago.

The biggest reason for these positive changes, IMO, is finally letting go of the part of my ego that was worried about how others would judge me and my ambitions. Owning my life, goals and decisions that are best for ME and my family. Being genuine and admitting when I don't know something. Getting feedback/criticism without taking it personally (still the hardest for me).

Think bigger not only about your business and what you can accomplish, but think big about WHO YOU ARE. When done with the right amount of humility, it can be liberating.
 

Kak

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The biggest reason for these positive changes, IMO, is finally letting go of the part of my ego that was worried about how others would judge me and my ambitions. Owning my life, goals and decisions that are best for ME and my family. Being genuine and admitting when I don't know something. Getting feedback/criticism without taking it personally (still the hardest for me).
This!

It rears its ugly head even when you conquer it. A feeling as though you should hide your ambition from others. Hide your wealth. Hide your success. "Yeah, it is doing well" when in reality you just got a massive breakthrough or whatnot. It is a constant battle.

What do you do? If you feel like your truthful answer makes you look like an a**hole to someone... That someone is an a**hole.

The old saying "it is lonely at the top" is better put "its lonely when you're different." This is the life we chose though. What is the alternative? The script? Hell no.

I am NOT preaching the virtues of peacocking. I am NOT someone that likes to show off. Most forum members who know me in person would agree with me about that.

You'll never again hear me say "I don't want a Rolls Royce" because in reality. I do. For me. I think they are amazing and I would be very thankful to own one.

The attention they grab is a negative to me. Big business inevitably grabs attention anyway though. Given the realistic choice, I still would rather have a brand new Culinan than my aging Suburban. Am I going to go out and write a check for one? Maybe a 7 series first.
 
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MTEE1985

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A feeling as though you should hide your ambition from others. Hide your wealth. Hide your success.
Bingo. That’s what I was alluding to here: Is Perspective the Death of Ambition? You’ve summed it up nicely.

We all know that being wealthy is vilified in the media, around dinner tables and hypocritically by many of our esteemed politicians. When did we become a society that views the ambitious person as the bad one? The broken one? The broken people are the ones who have stopped trying to realize their true potential. We should be praising the successful, rooting for them, and then asking “how did you do that?” The funny thing with the ultra successful is that they have provided the most value to society and are the most generous with their knowledge, time and resources.

I am NOT preaching the virtues of peacocking.
I don’t believe anybody reading this thread or any of your content could possibly mistake your statements for peacocking. At the end of the day it is about the achievement of your potential and your definition of success. If that is a Rolls Royce then I’m rooting for you 100%. For @MTF it is his freedom and his ability to travel. I’m 100% rooting for him and also every single person on this forum to achieve their version of success.
 

Kak

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I don’t believe anybody reading this thread or any of your content could possibly mistake your statements for peacocking. At the end of the day it is about the achievement of your potential and your definition of success. If that is a Rolls Royce then I’m rooting for you 100%. For @MTF it is his freedom and his ability to travel. I’m 100% rooting for him and also every single person on this forum to achieve their version of success
This is great. Too many people slander those more successful than them. That is jealousy, pure and simple. The cool thing is that there is plenty of money floating around the world for our earning. It isn’t scarce. It isn’t less likely for you if someone else has money.

Rooting for the success of others is a very healthy mindset to be in!
 
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Hijena1

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First of all, thank you Kak for directing me to this thread.

This pretty much answered all of my questions that I had. At the start of the thread, I found myself thinking that "thinking big and leadership" has to be much more complex. Some kind of physical science equation. Searching for the answer I missed the whole point.
Maybe some of you guys who are reading the thread have the same "problem".

After rereading 18 pages I understand that you can't provide a straight forward answer or 5 steps on how to become a better leader/wealthy and you shouldn't.

I was also looking at what proficiencies should one build up in the process of the leadership and business acumen. And for me personally, those are psychology, sales/negotiation and investment (correct me if I'm wrong).
 

Kak

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I was also looking at what proficiencies should one build up in the process of the leadership and business acumen. And for me personally, those are psychology, sales/negotiation and investment (correct me if I'm wrong).
I would say that those three are excellent places to start and can be a foundation of competency to build on as you take action. You are absolutely on the right track in my opinion.

If I’m nitpicking, I would probably say finance in general encompasses investment and includes a lot of important parts of big business planning.
 

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Great posts @Kak

For me it really boils down to "Is this what I want?"

I'm 24. I LOVE exotic/super cars... I LOVE expensive good smelling cologne... and I LOVE luxury 2-floor condos (penthouses)...

I recently got my first car; a $100k 2017 Jaguar F Type R (v8, 550 hp). A lot of people might think I'm stupid.. but this is something I wanted. Everyday when I get in to drive this monster, it put's such a big smile on my face - to me, this is priceless. It motivates me like crazy to grow my business even more.

Of course I sense A LOT of jealousy on a DAILY basis, but that's the power of entrepreneurship, no? People think it's not possible. The only people that drive those cars are retired doctors, lawyers, or CEOs (or a drug dealer). And then there's 24 year old me...

Anyways, my point is - we're not taking our money to the grave... if we can afford it, why not spend it on things YOU WANT.

And I totally agree with your post @Kak - why limit our beliefs? Why not work towards that $400k Lambo? Why work towards that $80k Audemars Piguet? Why not work towards that $2 million condo? After all - we've earned it, no? Obviously if you don't enjoy these things - then that's different (...but let's be honest, who wouldn't?)
 

astr0

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Obviously if you don't enjoy these things - then that's different (...but let's be honest, who wouldn't?)
Probably slightly different for me, but not sure if that's limiting beliefs or not.

I really value time more than things and value having more things to enjoy higher than having fewer, but the best ones. I'm also pretty rational in my choices.

I'm pretty happy with my house and totally don't want a bigger one. However, it would better be in a different location that I can't afford yet (the land is almost 20x more expensive there) as I slightly underestimated the inconvenience of living 12 km outside of the city which also means on one side of the city, especially with kids.

Happy with my two cars and a dirt bike and I do want more. Those vehicles would have a different purpose and should give much different experience while driving. However, I would have to figure out a way to spend zero time maintaining them, including time spent driving them to the service. Also, I would probably never buy a Rolls Royce or even a Jaguar. They seem pretty unreliable and it's hard/takes time to get parts for them (at least here). Why would I need a car that spends half of the time rusting in the service? My uncle had a nice Jaguar a few years ago. Yes, it's faster, more luxury and more comfortable compared to my old BMW. While BMW still seemed to have better handling/control, but maybe I got used to it too much.

I'm a little bit audiophile (no snake oil, just scientific sound reproduction accuracy) and I have like $7k system at home that was bought with a huge discount. Would a more expensive system be better? Yes, but not all of them. Still, I'm pretty sure I wouldn't hear a difference at all, so why would I need one?

But everything doesn't matter as long as I don't have time to enjoy it. Like I haven't driven that dirt bike for almost a year, listened no more than 15 hours in 3 years to the music on my system and currently finishing landscape design at home (that's important for my wife) but we usually spend less than 7 days a year outside and only when having guests. Heck, my guests probably enjoy my stuff more than I do.

Also, I have no reason to want a yacht, a jet, a supercar or any other more expensive item (yet?). Have better options for both active and relaxing entertainment, don't travel that much on planes and don't like to use only a small part of the item's potential. People don't drive 150mph on the streets, right?


I do believe that thinking big is uber important. That dramatically affects your decisions, especially long term plans.

My first business was to replace a job (5 figure). We got there in months but still failed.
The second business was aiming for high 6 figures and failed miserably with 0 earnings, haven't even got to the market...
Now I'm aiming for 8 figures in 5-10 years and things are going better than ever so far. But I don't feel successful or comfortable at all cause everything comes from a single client thus totally lacking Control. And we still don't have a proven scalable way to land more clients yet (referrals doesn't count).
However, I do feel safe to leave 9-5 and it would've been even better to leave much sooner if I could.

We're not taking our money to the grave, but I don't mind leaving some to my kids so they would have a smoother start in life than I had.

P.S. Sorry, haven't read the whole thread (yet).
 
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Hijena1

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of competency to build on as you take action.
I think we need to emphasize this once more for other forum members including my self. "BUILD ON AS YOU TAKE ACTION."

Finance... I am really thinking to go back to a college for a minimum of 3 years because I have an engineering degree in which I have absolutely zero interest.
 

Kak

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Finance... I am really thinking to go back to a college for a minimum of 3 years because I have an engineering degree in which I have absolutely zero interest.
That is a REALLY expensive way just to get personal knowledge. It is also rather incomplete. 80 percent of the MBAs I know can't think their way out of a paper bag. Did their MBA do them any good? Sure, but it is incomplete and it is dangerous when people think it is complete. Almost all of them do.

You complete the picture by taking action and solving problems.
 

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I think the biggest problem is not the limitation you place upon what you can "have" but what you're willing to do to get those things.

In the end, a RR is just a collection of nuts & bolts put together by some guy; determining the "value" of your life around whether you're able to afford such a thing is IMO a limiting belief in itself. What about experiences? Near misses? People? Things which are not as easily dollar-ascribed (time left with loved ones)?

A better way I've found is to determine how you'd be able to afford said items -- or perhaps whether you're able to gift the equivalent value -- for example, a Rolls Royce could be "orphanage in Africa" & Rolex could be "free wealth seminar for 50 schools in the local area".

In your life, what would a "Rolls Royce" look like if it were an asset? What would a "jet" look like if it were a brand? What would a $30k Hublot look like if it were a "network" of high value connections? Once you have that understanding, you're then able to work towards building up momentum to deliver value equivalent to said purchase. A line I've had in my head recently is "life is a two way street" -- can't get without giving first. No point worrying about it until then.
 

Hijena1

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That is a REALLY expensive way just to get personal knowledge. It is also rather incomplete. 80 percent of the MBAs I know can't think their way out of a paper bag. Did their MBA do them any good? Sure, but it is incomplete and it is dangerous when people think it is complete. Almost all of them do.

You complete the picture by taking action and solving problems.
I get what you mean. This may be not about completing the picture rather about starting the picture. It feels like I am bounded by not having some "primary" knowledge. Having this thought at the back of my mind: "Can I really do it" "But you don't know anything like this guys" etc..

I don't know maybe it is just a fear that needs to be surmounted with continuous action and solving problems as you already said.
 

MTEE1985

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80 percent of the MBAs I know can't think their way out of a paper bag
I’d put that number at 90, but maybe you know smarter MBAs than I do :rofl:

@Hijena1 Granted I haven’t taken this exact course I would imagine that it is a pretty solid foundation for $1500 vs. a $60-70k degree that looks great on a resume.
Leading with Finance
 

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I think we need to emphasize this once more for other forum members including my self. "BUILD ON AS YOU TAKE ACTION."

Finance... I am really thinking to go back to a college for a minimum of 3 years because I have an engineering degree in which I have absolutely zero interest.
if you learned engineering, you can be anything else! use the method to learn other things .... business, finance, etc.
 

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MoreValue

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This is interesting. I have had a lot of big ideas, but they are pretty much on the sci-fi realm. These guys have an actual hard concept. I am trying to apply this to my own scenario or a regular person. Let's say I have a hard concept, but don't have the 25 year experience as executive or history of VP of a global engineering company. From the OP, to compensate for the lack of this we could have "level of competence and leadership".

How do I get investors to pump money into my idea when their perspective is pretty much seeing a random guy that knows a lot about this particular topic, but still have no hard proof of leadership, since no success has been had yet? Is knowledge on its own that enough for leverage? I do not think so because everything we know can be found online. I would be disposable.

If I was the investor and actually sold on the idea. I would obviously have connections. I would just call up a guy with a track record. Ditch the random guy.
 

Kak

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This is interesting. I have had a lot of big ideas, but they are pretty much on the sci-fi realm. These guys have an actual hard concept. I am trying to apply this to my own scenario or a regular person. Let's say I have a hard concept, but don't have the 25 year experience as executive or history of VP of a global engineering company. From the OP, to compensate for the lack of this we could have "level of competence and leadership".

How do I get investors to pump money into my idea when their perspective is pretty much seeing a random guy that knows a lot about this particular topic, but still have no hard proof of leadership, since no success has been had yet? Is knowledge on its own that enough for leverage? I do not think so because everything we know can be found online. I would be disposable.

If I was the investor and actually sold on the idea. I would obviously have connections. I would just call up a guy with a track record. Ditch the random guy.
Jeff Bezos, Elon Musk, Mark Cuban, Bill Gates, Phill Knight, Donald Trump, John Rockefeller... They were all a "random guy" before they weren't.

There is no compensation for lack here. You need to not be a random guy. You need to be THE guy and prove it. The real deal. How you prove it depends on the project.

It does you no favors to talk yourself out of it. It is a process you take one day at a time. If you dont trust yourself no one else will trust you either.

I started my government business at 23 years old, as a random guy. I needed to be able to explain my vision and how it would work like no one else could. I did. My age certainly wasnt going to help. So when I raised money I hired old school lobbyists to set the ground work.
 
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MoreValue

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Jeff Bezos, Elon Musk, Mark Cuban, Bill Gates, Phill Knight, Donald Trump, John Rockefeller... They were all a "random guy" before they weren't.

There is no compensation for lack here. You need to not be a random guy. You need to be THE guy and prove it. The real deal. How you prove it depends on the project.

It does you no favors to talk yourself out of it. It is a process you take one day at a time. If you dont trust yourself no one else will trust you either.

I started my government business at 23 years old, as a random guy. I needed to be able to explain my vision and how it would work like no one else could. I did. My age certainly wasnt going to help. So when I raised money I hired old school lobbyists to set the ground work.
We are obviously borrowing a lot of money for these big ventures. Gotta give something up for that money, a lot of equity I am assuming. In a sense, it feels like we are going full circle. Feel as if I am an employee working for an investor, lack of control. If I borrow money, I am obligated to that person and gave up my freedom. Am I not? I have always bootstrapped from day one because of this. Couldn't imagine losing someone else's money and the liability that goes with it.
 

Kak

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We are obviously borrowing a lot of money for these big ventures. Gotta give something up for that money, a lot of equity I am assuming. In a sense, it feels like we are going full circle. Feel as if I am an employee working for an investor, lack of control. If I borrow money, I am obligated to that person and gave up my freedom. Am I not? I have always bootstrapped from day one because of this. Couldn't imagine losing someone else's money and the liability that goes with it.
I guess you can feel like that all you want. That doesn't make Jeff Bezos less rich.

There are people that have funds and want to invest them. It is their job to pick good operators and it is your job to be one. You can't just start a company raise money and then leave them hanging... Of course not. You can't build a large business without being responsible. Avoiding responsibility is not a business plan.

You need to accurately explain your understanding of the risks and rewards... Always stay ahead of it, and always be honest. There is no liability unless you act in bad faith. So my answer to that is... Don't act in bad faith.

Also, lending and investing are two different things.
 

MTEE1985

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We are obviously borrowing a lot of money for these big ventures. Gotta give something up for that money, a lot of equity I am assuming. In a sense, it feels like we are going full circle. Feel as if I am an employee working for an investor, lack of control. If I borrow money, I am obligated to that person and gave up my freedom. Am I not? I have always bootstrapped from day one because of this. Couldn't imagine losing someone else's money and the liability that goes with it.
This sounds like excuses to a problem or business that doesn’t exist.

Either way it is nonsense for two other reasons. Control and Ownership are independent of each other. Zuckerberg only owns 21-22% of FB but he is still very much in control.

Secondly, would you rather have 100% of a $1,000,000 company or 20% of a $20,000,000 or $100,000,000 company?
 
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Atu

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How do I get investors to pump money into my idea when their perspective is pretty much seeing a random guy that knows a lot about this particular topic, but still have no hard proof of leadership, since no success has been had yet? Is knowledge on its own that enough for leverage? I do not think so because everything we know can be found online. I would be disposable.
If you are saying that you have no hard proof of leadership, go get it. You can always sign up to a charitable organization and tell them that you want to take responsibility for making X. After a few months of actually delivering you can say: I want to organize Y (meeting, conference, etc...). And there you go: hard proof of leadership. Anything is better than nothing. And you will learn a lot in the process. If you will make that event revolving around your subject of interest, you are suddenly a center of something important in your niche. You will get connections and credibility. After continuing for a few years you will notice people lining up to talk to you.

And best wishes :)
 

MoreValue

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I guess you can feel like that all you want. That doesn't make Jeff Bezos less rich.

There are people that have funds and want to invest them. It is their job to pick good operators and it is your job to be one. You can't just start a company raise money and then leave them hanging... Of course not. You can't build a large business without being responsible. Avoiding responsibility is not a business plan.

You need to accurately explain your understanding of the risks and rewards... Always stay ahead of it, and always be honest. There is no liability unless you act in bad faith. So my answer to that is... Don't act in bad faith.

Also, lending and investing are two different things.
Right, right. Was getting it mixed up with responsibility. I may have to go through the funding route though. All my competitors are the "Designed in California" vibe. They obviously got money pumping in their ventures. And I'm here just a bootstrapped guy.

Right now, I have too many product ideas, but all innovation and product development is at a halt. Burned my savings. Not enough gas (money) for my ideas. My ideas are too large.

Is it normal to ask for salary?
 
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Kak

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Right, right. Was getting it mixed up with responsibility. I may have to go through the funding route though. All my competitors are the "Designed in California" vibe. They obviously got money pumping in their ventures. And I'm here just a bootstrapped guy.

Right now, I have too many product ideas, but all innovation and product development is at a halt. Burned my savings. Not enough gas (money) for my ideas. My ideas are too large.

Is it normal to ask for salary?
I have always used the fact that I don't need one as a way to sweeten the pot. It is yet another way to prove that I am responsible with my own money and will be with theirs.

If you do need a salary right away, expect to give up quite a bit more equity for very very little salary.

Results may vary... Some VCs will insist you only work on this particular project and you get a salary. Others are more lenient. Demonstrating
effectiveness across all areas of your life will help in any case.
 

MoreValue

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I have always used the fact that I don't need one as a way to sweeten the pot. It is yet another way to prove that I am responsible with my own money and will be with theirs.

If you do need a salary right away, expect to give up quite a bit more equity for very very little salary.

Results may vary... Some VCs will insist you only work on this particular project and you get a salary. Others are more lenient. Demonstrating
effectiveness across all areas of your life will help in any case.
Thanks, that helps. LOL will leave out the fact I burned through my savings. But, if I didn't I would not be progressing.
 

Knuffix

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Is it normal to ask for salary?
I work for a early stage VC company here in Germany and we usually receive financial forecasts which have founder's salary included. However those salaries are of course low at first (1.5 - 3k €/month). We had one case where someone wanted to match their current salary as a freelance consultant in order to work on the project full-time, which came out to be almost 100k/year, which we found was way to high for a brand new startup. So salary can matter, but if you err on the lower side than I don't think it would be a problem most of the time. Just my 2 cents. Your mileage may vary.
 

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