Think Big, and Then Think Bigger Than That.

[Kak]

@Vigilante and I were chatting about this a few days back. We have seen a lot of back and forth on the forum lately about insignificant financial decisions like:

Should I buy a home?
Should I rent an apartment?
How would you invest $15k?
New car?
Used car?
And on and on...

My sincere hope for most of you guys is that you quit concerning yourselves with the entanglements of mere mortals. Think billions.

Bottom line... You need a home... You need a car... Just buy or lease something you can EASILY afford and move forward. You've got an empire to build.

15 grand to invest? Seriously? Leave it in a checking account.

Then, one day, buy your 20k square foot estate home and your "Lambo collection" under the same guise.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Guest24480]

@Vigilante and I were chatting about this a few days back. We have seen a lot of back and forth on the forum lately about insignificant financial decisions like:

Should I buy a home?
Should I rent an apartment?
How would you invest $15k?
New car?
Used car?
And on and on...

My sincere hope for most of you guys is that you quit concerning yourselves with the entanglements of mere mortals. Think billions.

Bottom line... You need a home... You need a car... Just buy or lease something you can EASILY afford and move forward. You've got an empire to build.

15 grand to invest? Seriously? Leave it in a checking account.

Then, one day, buy your 20k square foot estate home and your "Lambo collection" under the same guise.

Can you help me understand this? Because these decisions seem important to me, at least in my current financial situation.

When you are just getting started or are broke these are important decisions to make so you can slowly start chipping away at your freedom. Then you can think big. But to think that these decisions are insignificant for the majority on this forum doesn't seem accurate to me. The less significant financial obligations you have the better.

No debt
No car payments
No mortgage

Versus

Paycheck to paycheck
Car payment
Mortgage


Who has more leverage in this situation? Maybe I am missing the point.

 

[Kak]

Can you help me understand this? Because this decisions seem important to me, at least in my current financial situation.

When you are just getting started or are broke these are important decisions to make so you can slowly start chipping away at your freedom. Then you can think big. But to think that these decisions are insignificant for the majority on this forum doesn't seem accurate to me. The less significant financial obligations you have the better.

No debt
No car payments
No mortgage

Versus

Paycheck to paycheck
Car payment
Mortgage


Who has more leverage in this situation? Maybe I am missing the point.

I'm not sure how you confused what I wrote with an advocacy of living paycheck to paycheck.

Yes. It's very easy to understand. Reread the post... What did I write in all caps? Make choices you can EASILY AFFORD.

I didn't say finance, I said make a choice you can easily afford. I didn't say trap yourself in debt, I said make a decision you can easily afford.

If you can't EASILY afford some form of home, and some form of transportation, you have problems this forum can't fix.

 

[Guest24480]

Yes. It's very easy to understand. Reread the post... What did I write in all caps? Make choices you can EASILY AFFORD.

I didn't say finance, I said make a choice you can easily afford. I didn't say trap yourself in debt, I said make a decision you can easily afford.

If you can't EASILY afford some form of home, and some form of transportation, you have problems this forum can't fix.

Makes sense, I must have missed the easily afford part and misunderstood your point.

When people ask these questions it's technically for basic financial guidance, but they ask it without any insight into their financial situation. The "easily afford" cannot be measured by forum members because it's different for everyone.

Deep down they know what they can afford so they shouldn't need to ask it in the first place.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Brian Suh]

https://www.texascentral.com/about/

This got me going today (my poor wife ) I think it’s interesting.

The facts are...
-The project will cost upwards of $15 billion.
-It is a private Texas based company and it has never built a high speed railroad before.
-They have the finances to complete the project.
-The project is underway and 100 percent approved on the regulatory side of things.
-There is zero chance that any of these guys put up the 15 billion.

So how are they involved in such a large scale entrepreneurship endeavor?

Like I’ve said before, they became the expert. They traveled around the world and talked with the entities that build, run and maintain high speed rails. They learned everything there was to know about them and brought it to Texas where they had an answer to every question an investor might of had. They raised enough money to finance a 15 billion dollar railroad. They are building a wild dream basically from a level competence and the leadership to surround themselves with the right people.

Are you on the millionaire fastlane ? Or are you, as @GPM put so eloquently, on “The thousandaire fastlane! Make as much as a corporate job with 5x the stress and 100% of the risk!”

This should be a HUGE lesson in thinking big. These guys did and they put their pants on one leg at a time just like you. No one is born an expert at anything. Start thinking BIG!

Ive been thinking lately on how we have had our imagination stolen from school and parents. If you think about it, childrens imagination and purity is perfect for making great changes in ones life and in the world. It is also what creates true happiness. Unfortuanely, life for us is unwiring the lost potential in us. There is absolutely nothing stopping you from achieving your craziest F*cking dreams. It is all there. Spend time alone and do things on your own to deconditon yourself from society and its bullshit conditoning. I believe we will look back in a 100 years and laugh at the accomplishments we thought were hard to achieve. If that is the case, why not be the people who laughs at the accomploshments we think are great? Lets re write history and lay the foundation for an epic future which unfortuantely we wont be a part of but can contribute!!!!

 

[GPM]

Deep down they know what they can afford so they shouldn't need to ask it in the first place

You hit the nail on the head right there. People are generally asking for approval for a decision that they already made their mind up on it, they just want some of the herd to go along with before they make their bad decision.

Keep those expenses as low as possible so that you are not worrying about things that don't need to be worried about. Drive a shit-box that gets you from point A to B. Don't drive something that gives you stress every month the money comes out of your bank account. Same with a house. Cook your own meals, don't eat out.

When it gets to the point that you don't give a F*ck about making those purchases, that is when you can do it. Do you think about getting a bag of chips from a corner store? Probably not. When you feel the same way about buying your lambo, that is when you should get one.

Listen to @Kak when he talks. I used to think "blowing up" a business to like half a mil in revenue would be a big deal. Now I don't even want to put in the effort required to get it even a quarter of that. That's because I have something on my mind that will make me look back and be sick that I wasted time on something that did not have the potential to have a valuation in the 8-9 figure range (Kak says 10, but I am not that crazy yet!). Thinking big is a shift in mindset. That is it. It is not just thinking big though, you have to act big, and go big. Thinking is just the start, it ain't worth squat if you don't back it up with some action.

Whats the difference between a deal worth $10,000 and $10,000,000? Literally only how you think about it and approach it. Talk to the right people, and come at it the right way and its just a number. Instead of talking to gatekeepers and salaried employees, you are talking to movers and shakers. Same product, same deal they feel comfortable with... orders of magnitude larger success once the deal goes though.

Aim for the corner store, you just might end up there. Aim for the moon, and you might fail and only make it into the atmosphere. Where would you rather be? (not literally...)

 

[Kak]

You hit the nail on the head right there. People are generally asking for approval for a decision that they already made their mind up on it, they just want some of the herd to go along with before they make their bad decision.

Keep those expenses as low as possible so that you are not worrying about things that don't need to be worried about. Drive a sh*t-box that gets you from point A to B. Don't drive something that gives you stress every month the money comes out of your bank account. Same with a house. Cook your own meals, don't eat out.

When it gets to the point that you don't give a f*ck about making those purchases, that is when you can do it. Do you think about getting a bag of chips from a corner store? Probably not. When you feel the same way about buying your lambo, that is when you should get one.

Listen to @Kak when he talks. I used to think "blowing up" a business to like half a mil in revenue would be a big deal. Now I don't even want to put in the effort required to get it even a quarter of that. That's because I have something on my mind that will make me look back and be sick that I wasted time on something that did not have the potential to have a valuation in the 8-9 figure range (Kak says 10, but I am not that crazy yet!). Thinking big is a shift in mindset. That is it. It is not just thinking big though, you have to act big, and go big. Thinking is just the start, it ain't worth squat if you don't back it up with some action.

Whats the difference between a deal worth $10,000 and $10,000,000? Literally only how you think about it and approach it. Talk to the right people, and come at it the right way and its just a number. Instead of talking to gatekeepers and salaried employees, you are talking to movers and shakers. Same product, same deal they feel comfortable with... orders of magnitude larger success once the deal goes though.

Aim for the corner store, you just might end up there. Aim for the moon, and you might fail and only make it into the atmosphere. Where would you rather be? (not literally...)

Great post!

I love the "not literally" for the stupid cheese grater guy hahahaha!

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[ALC]

@Kak Do you think anyone who want to build a franchise/chain in the food business should start with asking for money to investors right in the beginning or should open 1 or 2 locations then share the big idea to investor in order to grow exponentially ?

 

[Kak]

@Kak Do you think anyone who wants to build a franchise/chain in the food business should start with asking for money to investors right in the beginning or should open 1 or 2 locations then share the big idea to investor in order to grow exponentially ?

I have no experience in food service, so I'm going to just speak as if I am the investor.

I would be interested to know what exactly is groundbreaking or different about your restaurant. I would want to know about your experience in the space. Why you think you are the person that can pull this off.

See, the waters get a little muddy when we are talking a common business like a restaurant. You will more than likely have a hard time selling franchises until you have a great track record with solid numbers you can explain.

So with this, I would say your situation will look a LOT more like an episode of shark tank than thinking up something amazing and boldly above everything else they've seen that week and going after it.

I would say... Try to raise money. Every investor is different. Someone may want an ambitious restaurant upstart in his portfolio. However, you are probably right, a traditional investor would probably want some track record to paint the picture. Just like your franchisees will want.

Alternatively... Tillman Firtida, a Houston billionaire restauranteur that has made his way into other hospitality and now bought the Rockets has an interesting take on other people's money. I like it too.

His businesses are all something predictable and not foregin, which brings into play bank loans. Tillman is some of the few that never gives out equity because he is under the impression that it's too easy to get bank loans with businesses people understand. Look him up. The guy has built his entire empire with debt. It might be a good case study for you.

 

[Vigilante]

Starting on the path of a @Kak sized journey. I will add a progress thread when the timing is right. I'll sleep when I'm dead.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[MTEE1985]

Check out The Inevitable by Kevin Kelly, most notably the fact that in 5 years there will be new products/technologies that exist and the world will be saying “why didn’t I think of that?” Really gets your mind cranking.

 

[CRAsian]

That was profound! Thanks for the share. I especially enjoyed and benefitted from his point about shifting our mindsets away from just thinking in terms of time and thinking in terms of remaining instances left of something (his example of Tom only being able to see his parents 16 more times, instead of having 8 more years with them, gave me chills).

 

[CRAsian]

That was profound! Thanks for the share. I especially enjoyed and benefitted from his point about shifting our mindsets away from just thinking in terms of time and thinking in terms of remaining instances left of something (his example of Tom only being able to see his parents 16 more times, instead of having 8 more years with them, gave me chills).

Weird, I was responding to a video with Jesse Itzler and Tom Bilyeu but it disappeared.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[ALC]

I have no experience in food service, so I'm going to just speak as if I am the investor.

I would be interested to know what exactly is groundbreaking or different about your restaurant. I would want to know about your experience in the space. Why you think you are the person that can pull this off.

See, the waters get a little muddy when we are talking a common business like a restaurant. You will more than likely have a hard time selling franchises until you have a great track record with solid numbers you can explain.

So with this, I would say your situation will look a LOT more like an episode of shark tank than thinking up something amazing and boldly above everything else they've seen that week and going after it.

I would say... Try to raise money. Every investor is different. Someone may want an ambitious restaurant upstart in his portfolio. However, you are probably right, a traditional investor would probably want some track record to paint the picture. Just like your franchisees will want.

Alternatively... Tillman Firtida, a Houston billionaire restauranteur that has made his way into other hospitality and now bought the Rockets has an interesting take on other people's money. I like it too.

His businesses are all something predictable and not foregin, which brings into play bank loans. Tillman is some of the few that never gives out equity because he is under the impression that it's too easy to get bank loans with businesses people understand. Look him up. The guy has built his entire empire with debt. It might be a good case study for you.

Thanks for your reply Kak

Indeed, it's not your average restaurant but a whole new concept from Italy, something never done elsewhere which has a lot of potential, the idea was to either open this in the French Riviera (where i would like to leave & it's near Italy so people would know this concept) or use the massive demand in Paris and open as much locations as possible in Paris.

That's what i was telling myself, a lot of people have been successful here in France to open Food franchise / chain, difficult for sure but can be done with a perfect execution and a lot of work.

I'm from the industry, it's been 4 years, managing the business and the marketing, bringing new unique suppliers in town in order to be the only ones providing this kind of quality.

So then open multiple locations, run them well to be appealing for the investors then launch the development.

I will look at his story, thanks

 

[MTF]

@Kak, you seem to be well-connected and really good at networking. What do you think is the best way to connect with influencers and/or super ambitious people? I don't mean it in a business sense to get their attention and sell them something; I'd like to befriend those people so we can help each other grow.

What do you think about stuff like online masterminds, groups etc. as a tool to grow your network? Would you ever pay to join such a thing (one I'm considering joining is $5000 a month) or do you think that it's a waste of time and money and it's better to target specific people you'd like to build relationships with and figure out how to get access to them?

I'm asking primarily because I'm not surrounded by anyone thinking big and I recently realized that it negatively affects my performance (it's hard to think bigger and bigger if you don't have anyone to push you in the same way as a sprinter finds it hard to beat their personal record without competitors).

 

[Kak]

@Kak, you seem to be well-connected and really good at networking. What do you think is the best way to connect with influencers and/or super ambitious people? I don't mean it in a business sense to get their attention and sell them something; I'd like to befriend those people so we can help each other grow.

What do you think about stuff like online masterminds, groups etc. as a tool to grow your network? Would you ever pay to join such a thing (one I'm considering joining is $5000 a month) or do you think that it's a waste of time and money and it's better to target specific people you'd like to build relationships with and figure out how to get access to them?

I'm asking primarily because I'm not surrounded by anyone thinking big and I recently realized that it negatively affects my performance (it's hard to think bigger and bigger if you don't have anyone to push you in the same way as a sprinter finds it hard to beat their personal record without competitors).

5 grand a month for a mastermind group? Really? That’s absurd.

Give 5 grand a month to 1 or 2 charities and you’ll probably do better. In order to meet people by giving you need to be considered a major donor. Then you get invited to events where they ask you for more money. Lol.

I owe a lot of my network to lobbying. Lobbyists all know each other and all lobbyists do all day is meet with CEOs and influential politicians. Hell you could hire decent lobbyist for 5k per month.

Philanthropy, church, golf, and running my businesses for the rest of it. It just happened. Sorry I don’t have a better answer for you, I never set out to do it. Networking events specifically to network early on in my career were a JOKE.

Have you heard of the Rotary Club? That might be worth a look for you. I have heard good things.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[lowtek]

5 grand a month for a mastermind group? Really? That’s absurd.

Give 5 grand a month to 1 or 2 charities and you’ll probably do better. In order to meet people by giving you need to be considered a major donor. Then you get invited to events where they ask you for more money. Lol.

I owe a lot of my network to lobbying. Lobbyists all know each other and all lobbyists do all day is meet with CEOs and influential politicians. Hell you could hire decent lobbyist for 5k per month.

Philanthropy, church, golf, and general business for the rest of it. It just happened. Sorry I don’t have a better answer for you, I never set out to do it. Networking events specifically to network early on in my career were a JOKE.

Have you heard of the Rotary Club? That might be worth a look for you. I have heard good things.

Can confirm, local networking events will ensnare you in a web of desperate realtors, insurance agents, "financial advisers", business coaches, and MLM'ers. There are some higher level groups, but they are invite only.

I didn't know you could hire a lobbyist for so cheap. Is that local/state level?

 

[Kak]

Can confirm, local networking events will ensnare you in a web of desperate realtors, insurance agents, "financial advisers", business coaches, and MLM'ers. There are some higher level groups, but they are invite only.

I didn't know you could hire a lobbyist for so cheap. Is that local/state level?

Whatever level. You can. You just have to have the right expectations. You aren't going to be getting famous lobbyists that represent billionaires.

In my case, I hired a team of lobbyists experienced in exactly the right things. Through leadership and a strong belief in my vision for that company they were unanimously willing to accept a portion of their compensation package on contingency.

I'm a strong believer in finding ways to make your team rich. You can build long term high quality relationships that way.

 

[MTF]

5 grand a month for a mastermind group? Really? That’s absurd.

This is actually more of a mastermind plus 3 in-person meet-ups a year and access to the creators' network, but I've found out that one of the creators is involved in a sketchy financial MLM which makes me apprehensive to join (despite the second creator being 100% legit).

Philanthropy, church, golf, and general business for the rest of it. It just happened. Sorry I don’t have a better answer for you, I never set out to do it. Networking events specifically to network early on in my career were a JOKE.

Thank you for your answer anyway. It made me realize that I can get creative and achieve much, much more with this 5 grand than by joining this group (which I probably wouldn't join anyway because of my doubts).

Have you heard of the Rotary Club? That might be worth a look for you. I have heard good things.

Thank you, I'll look into it.

In my case, I hired a team of lobbyists experienced in exactly the right things. Through leadership and a strong belief in my vision for that company they were unanimously willing to accept a large portion of their compensation package on contingency.

If it isn't private, what are you lobbying for? Is this generally something business-related? I have no idea how lobbying works except for the negative portrayal.

There are some higher level groups, but they are invite only.

And that's the challenge because to be invited, first you need to know someone.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Kak]

If it isn't private, what are you lobbying for? Is this generally something business-related?

I lobby for a lot of things.

You generally lobby to change laws to make them favorable to you. That is the underlying reason for it.

You can also lobby for contracts, and directly for business.

Example... Uber needed to lobby to counter the cab companies trying to shut them down. Tesla needs to lobby to have autonomous driving allowed. Things like that. It doesn't happen on its own. It costs a ton of money and it's a pain in the a$$.

 

[ZF Lee]

Philanthropy, church, golf, and running my businesses for the rest of it. It just happened. Sorry I don’t have a better answer for you, I never set out to do it. Networking events specifically to network early on in my career were a JOKE.

The last sentence, I can AGREE with. Amen!

I'm thinking these networking events might as well be a SCRIPT, with lowered entry barriers to reach quality players.

 

[Kak]

Big Oil’s New Strategy: Smaller Wells, Smarter Tech Big Oil’s New Strategy: Smaller Wells, Smarter Tech

Bump for this... how can you serve changes like this? How can you provide value? What do these wells need?

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Victor Cezar]

Hi Guys.

I am a great believer that our mind creates our reality, everything starts with feelings, start to build some structure inside of our mind and finally, we can bring it to our dimension by our own hands.

Once I heard a dictate on my slow lane from a slow lane friend (sounds crazy enough) that I never forgot since then. It was "We can just reach only where we dream" (I don't know if translating this has the same meaning). This conversation happened on a regular basis coffee break and I never forgot it.

That's why I bought a little notebook and wrote down all my crazy and wild things that I want to do and have during my lifetime.

Big things were made from big thoughts which were born in big minds, airplane, cell phone, electricity, cars, industries and so on... You don't need to have high intelligence, or so whatever... you just need to believe in your potential and go out from your mental limits.

GG

 

[The Racing Driver]

Big Oil’s New Strategy: Smaller Wells, Smarter Tech Big Oil’s New Strategy: Smaller Wells, Smarter Tech

Bump for this... how can you serve changes like this? How can you provide value? What do these wells need?

If I were to serve this change, I'd work at developing AI (Article Intelligence) solutions to help automate some of the drilling and operations of the well. To avoid human-error making potentially bad decisions.

These wells need a lot of hardware such as robots, power units, smart cameras, sensors and more. The hardware and technology is already available. What's important is that they need to work properly and efficiently with good software.

 

[Kak]

If I were to serve this change, I'd work at developing AI (Article Intelligence) solutions to help automate some of the drilling and operations of the well. To avoid human-error making potentially bad decisions.

These wells need a lot of hardware such as robots, power units, smart cameras, sensors and more. The hardware and technology is already available. What's important is that they need to work properly and efficiently with good software.

I like your second paragraph even better... What kind of sensors? What kind of monitors and other tech equipment can smarten up a well and make it more efficient? What existing tech can be repurposed? Labor is also extremely expensive offshore... What can help them make crews smaller?

Bad a$$ huh? If you could help them cut the labor need per rig from 50 guys to 30 can you imagine what they might pay for something like that? Can you imagine the capital that might free up for more expansion?

Oil is a commodity, so the tricks of the trade are really in controlling costs.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Kak]

Hi Guys.

I am a great believer that our mind creates our reality, everything starts with feelings, start to build some structure inside of our mind and finally, we can bring it to our dimension by our own hands.

Once I heard a dictate on my slow lane from a slow lane friend (sounds crazy enough) that I never forgot since then. It was "We can just reach only where we dream" (I don't know if translating this has the same meaning). This conversation happened on a regular basis coffee break and I never forgot it.

That's why I bought a little notebook and wrote down all my crazy and wild things that I want to do and have during my lifetime.

Big things were made from big thoughts which were born in big minds, airplane, cell phone, electricity, cars, industries and so on... You don't need to have high intelligence, or so whatever... you just need to believe in your potential and go out from your mental limits.

GG

All true... but you need to CARRY IT OUT. You can dream as big as you want, but if your business is importing cat carriers and selling them on Amazon, and your scale plan is to get more reviews and sell more, don’t expect those dreams to happen.

You need kill big to eat big.

 

[Kak]

I like how Andy Frisella puts it: your goals should embarrass you.

You know what realistic goals get? Bullshit realistic lives.

I love this by the way. Sorry I missed it!

 

[MTEE1985]

I love this by the way. Sorry I missed it!

Rep sent to @Kak for the thread and @MTF for introduction to Andy, I’m loving what I read from him.

Set a massive goal and then instead of thinking about how cool it would be to accomplish, ask yourself, HOW could I accomplish that? How many things, products, services etc do we have today that were once “impossible”?

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Kak]

Rep sent to @Kak for the thread and @MTF for introduction to Andy, I’m loving what I read from him.

Set a massive goal and then instead of thinking about how cool it would be to accomplish, ask yourself, HOW could I accomplish that? How many things, products, services etc do we have today that were once “impossible”?

Believe it or not... Despite my think big mantra. I paint myself into a corner about what I will be able to afford. For example. I’m going to own a jet. It’s not a question of if, but when. I have made it a priority and I’m going to make it work... but I’ve told myself that I should get something economical. Here I am thinking with today’s income and projecting on to tomorrow’s. Stupid.

Limiting beliefs... I literally have created a mental block in my head about owning a G6 or some other ridiculously amazing jet... but why? Some people own them... why not future KAK? Still sitting here I’ve blocked that possiblity... “65 million? How about a G4 for 7? Or Pilatus for 2?” It’s something to work out.

 

[The Racing Driver]

I like your second paragraph even better... What kind of sensors? What kind of monitors and other tech equipment can smarten up a well and make it more efficient? What existing tech can be repurposed? Labor is also extremely expensive offshore... What can help them make crews smaller?

Bad a$$ huh? If you could help them cut the labor need per rig from 50 guys to 30 can you imagine what they might pay for something like that? Can you imagine the capital that might free up for more expansion?

Oil is a commodity, so the tricks of the trade are really in controlling costs.

For sensors, infrared (for temperature) and flow sensors are the first things that come to mind. To monitor the process, intelligent waterproof cameras can help assist with the whole drilling and extracting procedure.

Radars and sonars could help monitor the sea and weather conditions. I'm guessing that a lot of military technology that's already used in submarines could help on these unmanned rigs.

Intriguing questions @Kak. I've spent a bit of time with robotics, so maybe I'm seeing things from only one perspective.

If someone without industry experience wanted to help oil companies solve a massive problem like this. How could they potentially get started? I feel the only way would be to get connected with someone high up in the oil industry, and see where they need help in their offshore drilling operations.