Jesse Itzler's Exact Playbook For Creating HIT AFTER HIT

Date
Duration
85 min
go rent the countertops of all the liquor stores and then go to into biz one of the big boys and be like hey guess what i own ten thousand countertops you wanna bring no widget there you wanna put your fucking widget there keep the money warm get the money walk i feel like i could rude where i know i could be what i want to from at all in it like a day's off okay everyone what's going on this is sam we have jesse it's on the pod today very fascinating guy i started a bunch of different companies the biggest one being marquee jets which we got into some of the economics of that business and then he's done a bunch of other things do see him on social media he's done a lot of stuff but like his life advice was actually really amazing we went deep into some of the numbers behind some of his businesses we learned about his early career and there's like a a ton of takeaways the pod was only supposed to be sixty minutes long but sean and i were like so into it that we went over i think we went like ninety minutes something like that because his story is super fascinating if you like the rob d episode which a lot of people did i think our most listened two episode of all time i think you're really gonna like this one this was pretty spectacular i love feeling good about it and if you're watching this on youtube do me a favor hit that subscribe button and make a comment because we've had a ton of people comment on our videos lately and a ton of people subscribe we see the day behind it so it's awesome that you guys are doing this and it means a ton us we actually text each other all the time when someone makes a funny comment so let us know and if you're listening on itunes or spotify hit that download or the subscribe button whatever it is on those platforms because we get notifications about those two and it's awesome we're killing we're growing a ton and we appreciate the army of people who are supporting us alright enjoy the episode let us know in the youtube comments of what you think alright well welcome we got jesse here also known as i think you might be the richest runner white rapper in the country so congratulations by fred we we we are excited to have you here i love that if you keep adding categories i could be the richest in the world if you start adding like you know then have four kids that eat plant based etcetera etcetera so right on so you know i'm excited to talk to you because you've done a bunch of amazing things we've talked about you on the pod and we sort of spoken into existence i think we talked about it as somebody might have sent you a clip i'm not sure but you you reach out and said hey love to come on you have i'm just gonna read a couple of these things so i'm a flattered you real quick just so that the audience understands kinda just your background so like we said started out trying to make it as a rapper and ended up creating a a jingle company so you were making jingle for for sports teams ended up selling that and created mark jets a fractional jet owning company sold that to berkshire hathaway which warren buffett obviously runs it owns you're married to sarah blake founder of span you are an epic sort of fitness athlete yourself so prolific runner i read your book the the day i got really into is when i read living with a seal which is the story of you living with david go for thirty days i can't even really listen i gave david go for thirty minutes on a podcast so living with it for thirty days respect and yeah you've created a bunch of companies out outside that partner with z coconut water and and do a bunch of prolific things so you have a a very prolific clear career but the start was like anybody it was humble humble beginnings so talk about the early days when you were you were trying to do the the and let's start with a jingle company you you told me you were you were sleeping on couches at the time trying to make it and describe kinda what was going on at that time you're like what was the plan and what were you going through and how did you come out of that well i grew up in new york in the eighties when rap and hip hop was starting to emerge in a big way and that it that was the intersection of of that happening and me going into college so i was really into music early on and while all of my friends and college were writing resumes and going on job interviews i was like i'm making a rap record like i i'm why would i waste my time i'm making a resume i wanna make an album so it was like kinda asked the direction i wanted to go in right away i ended up signing with a record company called delicious vinyl everybody passed on me and this one little record company gave me a shot and i didn't have met like i wasn't super connected i didn't have like a lawyer i though i did it all i shot at myself but i ended up getting dropped from a label shortly after and i got into writing jingle or for companies and theme films for sports teams and that was kind of my first entree into you know i pivoted it it didn't work out for me in the music business but i still loved music so i stayed in there and i started doing jingle and yeah that's how i kinda started out early on you told me you were sleeping on couches try to make it and somebody offered you attempting deal they said yeah i'll give you ten thousand dollars if i can get ten percent of everything you'll ever make how how did that happen and what was your answer right so i was i was writing theme songs for sports teams i was twenty two twenty three years old and my business model was to write a song on step and then cold call a professional sports team try to get a meeting with them try to like you know get in there and then if i was able to get that meeting convince them that they needed a theme song and that was my business model and at the time i was i was i was bouncing around from couch to couch i wasn't homeless but my friends were i just moved to new york from los angeles and my friends were putting me up as i tried to figure out how to do it i had no money to go in the studio to write any more songs on spat so i needed money to fund that production so a music manager said you know i i i believe in you i'll give you ten grand for ten percent but i wanna own you for the rest of your life basically ten percent of anything you make and i was like i'll take it because i needed the money to go into the studio i thought i was deal of the century you're gonna give meet ten grand and all i'm gonna do is pay you if i'd make it like that's sounded amazing to me at the time i was living on my friend melissa katz couch i met her actually to bar and she had given me her number on an napkin and said if you're in an emergency she asked me where i live and i said as of monday have nowhere where to live i was getting kicked out of my friend's house on monday she said if it's an emergency you can come live with my roommate nigh monday my friend kicked me out because as parents were coming for a week and i'm like this is an emergency so i just living give melissa house and i told her about this opportunity and she said well why don't you go talk to my father before you give away ten percent of your future earnings and as it turned out her father was a very successful entrepreneur you you're the company called kenny park parking garages in new york and was i think the second largest shareholder of the new york yankee you're like melissa your apartment is really nice what was amazing about that was it really wasn't and that's why i really was taken aback by i knew her dad was an entrepreneur i didn't know the extent and should you know she said me on by the way his name is luke katz he passed away a couple of years ago was an incredibly influential guy in my life and this is my first encounter with them so i went to not to believer of this but i went to see him and it's it's really relevant for anyone listening what he said to me as a twenty two year old he i told him my dilemma i'm gonna take ten grand for ten percent of my life and he said to me is exactly what he said to me he said jesse you know will you make this business work without the ten grand i said lou i'll onto to something i know i can make it work there's him i know i can and he he took his notebook and he literally threw it on the ground and he said i didn't ask you that i didn't ask you can you i said will you there's a big difference between can and will i know you can start a podcast i know you can be a millionaire i know you can run a marathon i i said will you son and i said yeah will i will he said well tell him to take the ten thousand dollars and shove it up his ass we'll make it work and i did you know like it was a really powerful lesson and like you know what i signed up for this journey as an entrepreneur let me go figure it out let me go that's what i wanna do let me go figure this out and he keep breathe he blew that flame into me at an early age and it's really been a theme throughout my life in all the buckets of my life the the whole will versed can notion you know and why why is that so powerful the will versed can well because it's it really puts the pressure you know billie jean king at a book pressures a privilege and it is like on can we play for pressure sean like as entrepreneurs that's what we want man and you know i recently did a race called ultra man it's a six point two mile open water swim a two hundred and sixty five mile bike and a fifty two point four mile run and i thought to myself before the race that exact thing like i think i can do it but i'm never gonna know plus i sign up for the race put myself in a position where something incredible can happen or not but i gotta put myself in that situation and now if it's up to me like will i get it done you know will what am i willing to do am i willing to suffer for that one day fuck to have the next three decades have that in my memory bank and have it on my resume and and and i am will and i am willing to do that and and i did so you know what's really funny after you told me that so i did a call with you through today this is prep for the for the pods say hey you know we're gonna talk about i'm thinking about talking about this you have any good stories and you told me this this will versus can thing and the next day my wife was literally like she's said hey can you take out the trash but i was like no thought about can i take a time i will take out the trash and she has no idea what doing and i've been doing it all weekend i've been because it's once you see it it's actually everywhere ben texted ben who's listening on this thing right now he text me this morning he's like he's like hey how eat this weekend we're we're both like on a a fitness kick he's like can you stay locked in from now till thanksgiving and i just i was like oh ben you asking if be can we don't ask canned questions anymore as of maybe jessica sir i no longer ask can i it's will i or won't i that's it well think about how many times in your life someone that you you say something that you've done like you know i did you know rim to rim i'll i'll take physical activities or i climb kill jar and you explain to someone like i can do that and i you're like in the back of your head you're like yeah you probably can but you know will you do it you know this is like it's a huge difference between like oh just checking the box because you said to yourself i can first actually going through and doing it by the way jesse you i have one other story that you you don't know about so you used to go to something at least you went once called coach case fantasy camp is that correct i've been there for eighteen straight years okay okay perfect so you went to this thing those who don't know coach k he was the the greatest college basketball coach at at duke i went to duke and my roommate trevor used to volunteer at coach case fantasy camp and volunteer was literally volunteer i was like what do you you're staying over from brake because it's like doing some break and he's like yeah i'm not going home i'm gonna work this thing i'm how much you can pay he's like i don't think we really get paid but you know whatever like you just said put himself in a position for something good to happen and so and what i what he didn't know and what i didn't know was the only people who go to this camp that costs like ten grand to go to are basically like business baller are trying to like live out their dream of like oh as if i was an athlete and he's he so he all he was doing was driving the shuttle back and forth between where y'all were staying and the thing he's like dude it's amazing he's like just hearing these conversations what they're talking about in this like nine minute shuttle ride he's like every night would debrief with me ideas that he heard he's like this guy said that he does this this thing over here this guy said he does this and he told me he goes i met this guy super charismatic like this guy he loved this guy's energy he goes and he tipped me a hundred bucks for this like ten minute shuttle ride and late i told him he i told him i was mentioning tim that you're coming on the potty goes that was the guy who tipped me so i don't know if you remember this a lot but we took that tip and we had a business idea at the time and we needed to convince this famous chef in la to come fly out and partner with us we had no money and so you you plus a little like a side job that i had became the money we paid for for the ticket to fly that guy out which definitely into the trajectory of our life so little did you know i i love that and yeah i've been going in there for since i'm thirty five it's for guys thirty five and older and it's not to chase some some crazy dream it's a combination of you know meeting amazing people and also kinda like there's not a lot of times i'm fifty five so i'm i'm older than you guys and i can't stop that clock you know times undefeated it's always ticking it's it's the six days a year or the five days i go there that i get to feel like an eight year old again and it's really one of the few times in my life that i get that chance and i love it i don't know man i follow you on instagram it seems like you live like an eight year old a lot of times pretty sure i just i a lot of i do i do i do i do i shouldn't say that i'm pretty i'm pretty sure i just saw you like in an rv with like eight friends just like running around the seems like you yeah it seems like you got the eight year old life kinda nailed down i like i to give myself that excuse sam i guess you put you're right it's more than once the more than five days a year yeah i i think i think you've done that alright you i did was your first kinda major business marquee jet so you went from did you go from jingle to jets yeah so interestingly i had so the jingle thing turned into a real business i found an opportunity i started out doing jingle just for anyone that would pay me anything to do anything so i was doing jingle from i honestly like turbo bubble gum like bubble book gum company that no one ever heard of like anything that our pest intro needs a little spruce up if you wanna if you wanna dust it off yeah i i i got you guys and and then i start and then one of those jingle gave me an opportunity to write a theme song for the new york knicks i done a a commercial radio ad for a company called in the in the pink clothing it was owned by nancy gru bernie gru the gm of the knicks wife and she really liked what we had what i done and she said yeah if you have any other ideas you know let me know i so i love to do something for the knicks you know like write a theme song and we can shoot a video they can sing it in the arena so i i approach the knicks to do this song called tony and the knicks paid me four thousand dollars to buy the song outright i'll never forget it like ashley borrowed money to go in the studio to do this to do the song i didn't have enough money to go in the studio recorded because they were paying me thirty or sixty days later and by the time i paid the studio the engineer the lawyer that i had the singer the producer it cost me forty eight hundred dollars to actually deliver the song that they were paying me four thousand dollars for and when i look back on it you know for most people they were like that's a terrible business model it was the best business model in the world for me because when you start out you know people buy into stories momentum and people very often more than the products like i was the business plan and i would have paid the knicks ten grand to say they were my customer because once i had the knicks those phone calls to get the other sports teams became very easy and that became my calling card so i built a business around that sean that actually i i ended up doing theme songs for almost every professional sports team and turned it into a business where we were selling cds like this i would take the songs as they play in the arena add my original song with great moments in the team history and sell retail i sold that company to a public company called s x and that was my first i was twenty seven we sold it for four million bucks and then we had there was an earn out for another twelve over or sixteen or something which we earned out and that was my first kind of like get off the couch moment i was no longer on the melissa's couch and i moved into my own space what was your take home after for that i had a partner and at the end of the day i think the on the first four million i made like a million and a half or before wait a million and a half dollars to me all the money i was elon musk but flo musk was born i was walking around like i was musk in and a half dollars i would vote to the wake up at the eight and go to the atm i would get my printout out of my balance swear to god then i would wake up the next morning and be like are you fucking kidding me i have three hundred more dollars than i had yesterday and i was sleeping i'm like bed i'll go back to bed money my partner convinced me to take all one point three million dollars that we both cleared after taxes or whatever it was and reinvest it to to to get like exclusive deals in all this like we made the biz we reinvest it in the business and actually made the business a lot bigger and we got our earn out and then then everything changed a little bit for me but you know i had no idea how to manage money my parents never talked about money my dad owned the plumbing supply house my mom raised four kids the the thing the are i had no relationship with money that might sound weird but like people talk about relationships with in terms of their relationship with their kids or there are significant other but not in terms of their relationship with time which is very important and your relationship with money which is equally as important i had no relationship with money so when i got money i didn't know how to save it how to spend it how to use it had to act around it i was very immature around new money and you know what happened to me then i lost it because i didn't know anything about it and fortunately i i was able to bounce back through having other successful businesses and failures but no one ever told me about it how'd did you lose it just overs spending or what'd you do overs spending thinking like oh that was pretty easy man i could just i could do that again you know what did you buy it wasn't like so much what i bought it was just you know helping my parents spreading it out i wasn't abusive with it like but just i didn't know how to really handle that that's pretty common right like you know sean and i have a bunch of friends you know we're both about thirty four thirty five and we have a bunch of friends and ourselves as well who had exits at a young age and the thing about selling a company it's different than the there's usually two types of people have noticed is people who have cash flow businesses or they're like a lawyer or something that they're own loan for something where you're like income is going up a nice amount every year and you get used to having that cash flow and then the other group of people are typically young folks who sell the company and typically those people are like me where i paid myself twenty thousand dollars a year one twenty thousand dollars a year two year three was fifty thousand dollars year four i sell it and make a lot of money and you're like this is just overwhelming i don't know what to do with this and yeah that's like a pretty that's like a pretty common things i i don't think i i don't know if most people blow it but i think it takes about two or three years to acc and kinda get used to and learn what to do but there's no one to teach you the problem is i i'd always been taught oh if you're a like a millionaire with shit was the well but i didn't know i've been out the opposite like if i saw a millionaire that was like the pinnacle like he's a millionaire man so i was thought like oh i have a million dollars that's all i need to have for the rest of my life i'm a millionaire a twenty seven and that's that was the relationship that was wrong right yeah you could spend that you could spend that easy yeah you go and to have a four thousand dollar dinner when you were eating when i was basically eating a ninety nine cent bagel for seventeen years you know things change quick you i'm a big believer that most of life most of your life kind of is a result of this the conversation you have with yourself and your head do you remember after you kind of had that first hit and you see the money and you still have your only twenty seven you still got all your life ahead of you do you at all remember like the conversation you had with yourself like alright jesse so like now x and whether x was a good at good a good conversation with yourself or misleading one do you remember what what the conversation you had with yourself at that point in time was you know it was interesting because shot i was living in new york and most of my friends were working on wall street they were working at hedge funds they were making they were making a lot of money a around there's a lot of money around me and you know it's very easy to get caught up in what's he making versus one am i making and it's very easy to like you start having those conversations with you yourself you can go down and spiral downward very quickly and you know what i was making what it took me years to make and build and sell and my journey to get to that point was crazy i was selling karen sell celery sticks door to door that didn't work i had a t shirt company that didn't work i got dropped from a record label that didn't work i i cleaned meat crops that didn't work i sold chicken shrimp and meat door to door that didn't work i mean jingle company did i it went on and on so you know i had really worked so hard and and at the same time like i had invested so much not for the money but just like i just wanted to get a record deal man i didn't care about the money i just want everyone said you can't do it everybody and it was it was such a driver if i remember i was to do a podcast where one of you guys were with lair hamilton and you were saying how that he was saying how that you know one you guys saying you need that anger to inspire you like some kind of fuel you know so i had that i still have that don't get me wrong i still have that and i'm i never wanna lose that under underdog mentality i never wanna be like i'm at the top of the mountain i'm not i can sit myself back of the pack everything back of the pack sales back of the pack entrepreneur there's so many better entrepreneurs than me so many better salesman in than knee but i i but i love that feeling of i gotta prove myself so when the money happened it was just like oh steve stark is making so much more than me were in the same basketball run like i got a cash start you know the the market jet thing that's interesting though because that's like totally out of left field so and and that seems like a a a way bigger win than the jingle business same partner right same same cofounder yeah same partner it was a much bigger win and it what like most things in my life the most of the businesses that have that i've been involved with warren plant you know and most of my successes in life have been in my business plan they've been opportunities that presented themselves you know my life i've been taught when opportunity knocks you know and i'm not i don't wanna sit around waiting for opportunity to knock i like to create my my own opportunity and i was a guest on a private jet with my partner and i was like you people fly like what is this what is this that i'm on and we it led to some research like there's only really two or three ways to fly privately back in the nineties when we started marquee jet you can buy your own airplane if you had fifty million dollars you know or something like that well that's out of the question you can get a fractional be a fractional program like net jets but even that is a really big commitment both in capital and time it's a five year commitment lot of money up upfront that wasn't i mean that wasn't an option for us or you could charter and there were a lot of questions around well who owns the plane who are the pilots you know do i feel comfortable on that what if the plane doesn't show up so we found the little white space there said you know what we only wanna fly like twenty five hours a year i bet think there's a lot of people like us that don't wanna own an airplane don't want the responsibility but they just wanna be able to have the have a plane available short notice and that was the idea around selling a twenty five hour check card that were worth like work like a debit card so if you and if you and sean's flu two hours you'd have twenty three hours left and then we partnered with nets yet again part of being an entrepreneur figuring out how to get from a to b the fastest and for us for me in my life many sides has been through partnership we partnered with nets jets they ended that up buying us to use their airplanes partnered with coca cola at x at z c order van ended that up buying us so but anyway that was that's what happened we were guest on the plane and you know walking around eyes is wide open looking for opportunities and said wow this could be really interesting and and then started the journey of figuring out how we could pull this off because we had no aviation experience very little money and you know i was younger than you guys i was twenty eight twenty nine years old and figuring out like man we need a lot of airplanes where do we go for airplanes and and then started that journey of of building this company are you walk in you walk into bed jets and you're like hey i'm jesse former rapper jingle and i would like for you to give me your most valuable assets your planes for this new membership program how did you convince them to do that well at first we in they kicked this out of the office in the first meeting after about twelve minutes and backing that up the bigger question is how we even get in the room forget like what happened at the meeting how in the world did a multi billion dollar company let two kids that didn't break a thousand on their sat into a room to pitch them the idea a year before that i was a yes guy my whole life i i i was i i've i've kind of and i still try to pride myself when people ask me for things to deliver if i can but never asked for anything in return you know like i'm not like oh yeah i'll do this for you sean but like can you do this from like i don't know how that's that the i got a call a year before that from someone that said that their daughter this is a true story and it's the craziest story ever this guy was having a his daughter was having a three sixteen and chris a famous singer was performing at his hometown his daughter wanted to bring her sweet sixteen to the event the guy says i know you know the manager can you help help this guy get some tickets and do anything special turns out i get the the guy's daughter as a backup singer for one song with the mic off everyone in school of at day is she's like the hero of this like what happened oh my god they're freaking out the guy calls me up because i don't know who you are i don't know what you have what you do but you lit my daughter up and if you ever need anything let me know like turns out he i can't make this up he's the president of that jets a year later i need six hundred and fifty airplanes i'd all love my magellan you're never gonna believe this the the guy got your daughter i have an idea for a thing he gets me the meeting we get thrown out of a meeting twelve minutes in because they're like we're not giving two kids access to our six hundred and fifty airplanes and this guy jim jacobs comes up me after the meeting he goes you know what that was amazing i said we got thrown out in twelve minutes when you mean you need he goes rich stan tu my party he doesn't give anyone twelve minutes he goes this up that he come back next week and bring this thing to life rep pitch it i need more information so we came back the next week and we realized we can never sell them in a powerpoint which is like what every everyone guy sees a hundred powerpoint points every year we brought in our own focus group we'd ate people in the lobby and they walked in one by one and they stood up and said that they would never buy a fraction of an airplane what net was selling but they would buy a twenty five hour jet card and at the end of the meeting they literally said if you guys raise money or put up your own money if you can figure it out we'll give you a shot and a a couple of years later we had more customers than that yet what's crazy you showed him the market you were like i could either put up a chart or a pie chart right here or i could literally walk the market into the room and have them say i need this product and it turns out that eight people saying i need this product to your face makes a bigger impact than a pie chart that says eleven percent of the market means this when i think back on this moment at twenty eight years old and we had like carl banks from the new york giants i think run from run the dmc emc was there it was right behind me on the wall you know when these guys got that meeting yeah we brought we brought it in we brought him in and when we said when when when we they got up one by one and explained why this card would work and you know i think what they realized was they had been pitching to a much older corporate client and that they what they realized i think in the meeting was here these two twenty seven year old gives them by the way remember i said people buy it into people stories and momentum this is nothing to do with our product the decision maker looked us in the eye and said i see enthusiasm i see someone that's no matter what even they though they have no aviation experience is gonna make this work and i'm willing to bet on these two guys it wasn't there was no powerpoint it was us like you're the business plan you are the business plan so at the end of the meeting he literally said to us after we got the deal and me like year one we did a i think we did like close to two hundred million in sales year one and i remember going into his office and and asking us said rick santo who is like he knight didn't me man he knight me i said rich how do we how do we end up here man and he looked me dead in the eye and goes you guys remind me of me when i was twenty seven and bringing in this focus group yes they came in and they explained why they would buy a card and yes they saw a much younger demo that someone could be a lifetime customer now a twenty five versus a lifetime customer fifty so they saw the lifetime value of what we were bringing in this younger generation of athlete entertainer you know young mo etcetera that they wanted that because that's incredibly valuable to get that person on their plain at a young age but at the end of the day they he saw something in my penny and i my partner and i that he wanted a bet on and you know i just wanna say this for for anyone listening here because i know this is primarily a business podcast by the way it took me thirty seven minutes to warm up but i'm fully here for you he's here i'm slow i'm slow today but i got it now you know like i said that was never in our business plan oh we're gonna bring it own focus group to start a company that does five billion in sales it's like it's the things that live off the the business plan that make the biggest difference and when you have a chance you you know you don't get a lot of big meetings like that and i remember twenty seven walking in there and saying to my partner like this is as big as it gets because you know what there is no one else that is six hundred and fifty airplanes this is it and you have to bring that meeting to life you have to stand out you have to you know not in the gimmicky way but you have to make that memorable man and and fortunately we were able to do that and and it worked and then we had an amazing amazingly fruitful relationship and partnership with net until we exited are you so like i i i i think that all three of us might be a a a bit similar in in business relationships where we're like we bring the passion and some of the creativity and the zero to one stuff were you good at running that company or were you or did you have a good partner who is running it and you were great at kinda bring some of the deals to fruition i can only run marathons i can't run any business i'm not gonna run anything no i'm a terrible operator i'm a terrible manager but i'm really good at knowing that i'm terrible at that and being okay with it so you know we were able to hire a ceo right away and then which allowed me to focus on sales which i was which i was better at buzz which i was really good before the in before instagram i'm not so good at the now with instagram but back when there was no instagram i was good at creating p opportunities and and talk worthy events and for my era that was really important so no i have never i've never been the ceo of a business i've never ran or operated a business but i've been a founder i think five times and how that model work is it like a costco model where you were breaking even on the two hundred million in sales but you made money off the a membership no so we the original deal with net was we were leasing time on their planes but i wouldn't have to we went have to enter into the a long term lease until we stole it we had no risk they were carrying all the paper so if i bought if you and if sam sean you guys bought a hundred hours we go by a hundred hours and it was marked up so we were just a marketing organization they owned and operated the planes and we were leasing it as we got big all a sudden we have a four thousand members were doing a billion dollars a year then the model changed and we had to start buying our airplanes but by that time we had you know significant cash and we were able to do that so it started off with literally it was an incredible deal for us and for that it was a true no lose for both parties and that those headline numbers are really big how big was that exit i mean that's a that's a pretty big thing help you because net how do even know i don't even remember what net sold to berkshire for i'm sure it's public this was before berkshire owned it is that right net sold the the berkshire prior to us okay and then pretty and then we went to now we're part of that mount she jets that part of azure just which is your berkshire stock because that would've have been a good stock to just get in the deal i right no we didn't that jets sold for seven twenty five seven hundred and twenty five million and ninety eight and half of it was paid in stock so that was if if that that was a good deal for net jets depending on if i don't know what the revenue was but that that's a lot of money you you snapped your fingers and you were like we did first year we did whatever forgot what you said two hundred million or so two hundred i don't know what that means what what is two hundred million there that that's not that can't be membership dues that's that would be insane no it is yeah app no because our our our average our average customer spent close i think it was two hundred and fifty or two hundred and thirty five thousand dollars a year i gotcha okay but it it's more like a gm so because you have to so your take is some spread between that and then whatever matches okay gotcha so yeah i guess like on on on that model what's the income on two hundred let's just say a hundred million what what can your profit be on that well this is thirty years ago so how about i don't remember exactly what it was but it was enough that i was now off the couch and living very good life and and by the way the best roi in that deal as i met my wife there she was a customer of ours and that's all i met my wife you you you you told me something which was about getting the first customer so before your wife was even a customer you know you're like i'm on this plane i'm like holy ship this is an amazing way to fly i'd love to do this i'm sure other people would love to do this you come up with the idea cool now how do you go get those first people to give you two hundred thousand dollars to be a part of this that's like a a huge like where did you go find those customers and and tell the story of kinda how you got it off the ground well we were start we started out you know i think the first thing that any most entrepreneurs is police in our position and it more is we had to establish credibility because if i was gonna sell your time on a plane and you said who flies with who flies with you guys that would be my first question or one of them and i said on my dad my next door neighbor you probably would leave but if i was like you know oprah bill clinton you'd like wow they must have vetted this get out so we started out looking for athletes entertainer and and high profile people which was not easy for me but i had to go where wealthy people congregate and i heard about this you know that could afford time on a jet i heard about a conference in monte california that was just getting some traction called ten so out to monte and yeah i told the guys was like hey i'm gonna go get my first sale i'm going to the thing called it ted talk they were like what tall and it's in monterey california you gotta like you can't even get there i you have to like i connected to a chicago into whatever rented a car five hours amount of rate i get to the ted it's like fort knox man everybody has a credential like this like huge and i'm like you need a credential to get in here there's no credentials to be found so i'm thinking like how am gonna sneak in buy someone's past like go into the room where all the qualified leads are i'm in this coffee shop plotting like you know my my my entrance or how to do it and every two hours a wave of people come in and they're buying they have these credentials i'm like oh this is where they come on their break and they're all buying latte and muffins and these latte and muffins and whatever latte and muffins so that next morning i got up at five and i bought all the muffins from this i controlled all the muffin inventory in mod california and i literally just waited and this is true story by the way and it's it's been verified you can walk so two hours later this guy the first wave of people on the break walk and the guy orders a lot and a up and i stop them they tell them that that they could give them a lot but they're all out of muffin just like fucking nine in the morning he's like you're out of muffins the guy starts walking i stop them sorry i overheard you i actually have an extra muffin if you want a muffin and he's like you got an extra muffin and i'm thinking like i got every single fucking and do the deal man and what do you need and i started talking to me he's like you know what do you hear me for the conference i'm like me too what do you do i tell him what i do he said you gotta be kidding me i'm in the market for a private check card and his name was josh ko on the company called half dot com famous as vc right he is i bumped into like three years ago at at a retreat and and we were we were talking about this and anyway he was my first sale he was my first sale and and that is not a story of me being a good sales rep because like i said i am truly back in the pack but it is an example of me putting myself in a situation will versed can of putting myself in a situation where i could attract that kind of luck you know and and he was my first sale though sean to answer your question and and you know what happened after that i'm gonna tell you what happened after that i serviced the hell out of them i did what everybody listening would do but i did thirty percent more so what he went to mexico he expecting me to return his call and every dm and all that of course i did what everyone he would do but he went to mexico he didn't expect a list of pediatricians that i've vetted in case his kids got sick mh he didn't expect me to make reservations every wednesday at at every night at eight o'clock during spring break in mexico in case he and his wife wanted to go to dinner and and and after a couple of months of doing that what he didn't expect me to do he gave me the magic word he gave me referral and that was rinse and repeat for for five years until we grew this so no i was never the ceo i was never the the the operator i was never the coo i was i wasn't even i even think was on the org chart so i'm i'm i'm looking at your check this out well you're on the website i'm looking at i use web archive i'm looking at the night the two thousand five version of marquee jet dot com and i'm looking at your about page and what's interesting it looks like your senior executive team was not only awesome it was like amazing because ken austin i see was your executive vp is that the same ken austin that went and started is it avi the tequila company and most recently started proper twelve with conor mcgregor is is that the same ken austin and it's a kill a company with the rock yes you've done a good job of hiring no we were the boston of celtic man we're we were the boston of celtic we from like the old we we the talent at this company was exceptional ken austin is an exceptionally i don't he could be them is such a talented guy and i learned so much from ken and you know we had great sales reps and we attracted really good talent because we built a really good culture well it's also a sick product i mean you said you met your wife there it's like that's like the greatest line ever like oh you you you're here at this jet company so i know like you're of someone i know you're someone interesting definitely just so it happens i i work here or i own the company i mean it's like a that's that's a it's a pretty wonderful experience i imagine to work at a private jet company it would it worked it really was and you nailed it but the only thing i would say to that is i think there were like sixty five private jet companies that put a flag in the ground from when we started to when we sold and i think we were the only one that made money i might be wrong about that but if something there's some including a garrett camp the guy from uber he created he tried to do an uber for jets that didn't work out right it's it's very very difficult and if we didn't have net jets as a partner you know it went to i'm sure it went to worked as well so a lot a lot of things lined up there business you did a partnership on was z coconut water and yeah i think this is interesting because now we're seeing a pattern the first is you're picky businesses in like categories that they're not in the nba curriculum nobody's thinking about oh sports teams needs slogan and cds that will increase their fandom nobody even realizes that that's a niche you can go into or to do you know this membership model for private jets nobody's even looking in that area at the time right is it very few people are even thinking about that niche it's not common then you go coconut water so now your consumer packaged goods in a beverage category that's nonexistent existent really at the time and i think niko was pretty small when you found it it's not like it had like you know tons of momentum so talk about two things number one finding these niches like what what is it that that you what is your operating philosophy that leads that seems to consistently lead you to these that's the first question and the second is the key partnership that got it off the ground i heard an amazing matt damon story i wanna hear the full version of it who was zeke up yeah yeah i spent a year trying to figure out how to have my own coconut water company went to brazil i went to jamaica look try to figure out this is there were no there was no coconut water in the store time this is i'm so let me back it up even further i was running a hundred mile race and i did a lot of i trick when i was doing my training i did a lot of research around hydration and nutrition if i'm gonna run for arguably twenty four hours how many calories do i need to eat it drake an hour how many calories do i need to take in an hour how much fluid ounces i need to drink an hour how much salt do i need an hour and my research led me to coconut were so i ran this race powered by coconut water and i finished it in twenty two hours and thirty minutes when i was done i'm like this is gonna be this is the new gatorade no one knows about this i'm the human guinea pig i'm bringing this to market you you know it's a better option it's all natural one ingredient you know it rains god sends it up a tree we crack it open and we drink it like this is i mean are you kidding me so i spent a year trying to figure it out how to import it and i realized like i did get an idea on my sat because i couldn't figure it out but i knew i could market it and sell it i knew i could so again same model same formula i took it the idea to coca cola the president of coax emerging brands division was friends with one of my customers at mark jack he got me a meeting i pitch the meeting in the meeting i pitch this idea of coconut water he takes the liking to me but he says we don't buy powerpoint or coca cola we buy brands he goes but if you partner with another company or something you know maybe we can then that that's out there that is proved that they can make the product ship the product get it in stores or whatever we'll come in we'll partner with you so i went to z and that's how we form the partnership during the meeting the about a week before i was at matt damon house and matt was also a customer of a marquis jet and i did the things that i did for josh ko with mad and we became friends and i said to matt you know he'd asked me if i wanted to spend the night they were going out and said i'm going to brazil in a day or two i can't say here's what are you doing in brazil said i'm starting a coconut water business he's like you've gotta be kidding he's like i love coconut i have a coconut tree in my backyard he's like i drink he goes if anything happens what you know with this company let me know i may wanna get involved a month later in the meeting at coke like the meeting is going so bad i'm showing this powerpoint you know like and and out of nowhere like i know i to change the whole energy feel of the man i just turned to the president of the guy coke and i'm like you know my partner matt damon and i and the guy point matt damon is your partner i said i didn't mention that are you talking we go all the way to the one yard line i leave and i call matt i'm like man i need a favor he's like i'm like can i come over with the cat can we climb up your tree get a coconut chop it open know go in the kitchen put a straw in it you know turn to the camera and say mu tar mu tar kent the ceo you of coke there's gotta be a better way than this he's like alright and i filled this heat film in this award winning f thirty five second short film of him getting a coconut chopping it open and saying there's gotta be a better way and and we got the deal and the creek you know what's interesting about that is obviously who's gonna get you know a mega star to come that's not the point it's it goes back to what i said will you make it work putting yourself in a situation where you can get lucky here's the other pattern sean you're talking about patterns and making me making yourself stand out and be memorable in a meeting now i stretched it the little bit this one but but but it ended it ended up working out that's an amazing story that's amazing that's a good one i love that story i love that story you that's wild i like coke bought it two years later hundred percent you when you bought did you buy into z at the time like did you was that like a shot and have you made bets that you felt like financial bets that were risky like you know elon does this thing sort rolls all the proceeds into the next business and sort of goes all in each time which is you know probably not advisable to most but like what's your strategy been now that you have some chips to play with do you do you make big financial bets are you saying no i'm gonna add value strategically do you start things from scratch what do what do you like to do with the chips that as you accumulate them how do you how have you use that to to your advantage well i've i've realized that i've got as i've gotten older that more isn't better better better and i really don't make a lot of bets i have four kids what i'm most proud of showing in my journey at fifty five is that i've been i've i've exited five businesses but i've been able to keep build the family keep my health you know be a really good son to my parents i've have great friends so i really aren't i'm not and i'm not using eli as an example you you brought them up that me but i'm not trying to roll everything in or i'm really proud of what i've been able to do and i'm really proud of the life that i built so i really don't i really say no to move i have this thing at this point in my life if it's high aggravation for high reward i'm not doing it if it's and that goes for anything money friends i don't want high aggravating friends i'm on friend reduction right now i'm on friend reduction man i want a low you lay you do zoom calls so people let him know hey sorry we had to make a reduction in in in friends listen we're doing a lay man excuse me mister david can you step now and time there's severance package we'll wait three more times that's it we need to have a discussion crap so funny but i'm not trying to you know push you really it's like it's based on food my enthusiasm for something how is it gonna impact my life meaning like day to day i walked away from several ideas that i think could be really good she because because like just because you have a good idea i mean you should do it and i've sarah said that's me i had an idea now i see people doing it now about eight years ago i said sarah i have an idea that's bigger than marquis jet like mark jet was the biggest thing i've done you know and i thought walked you through it and she goes that's an incredible idea don't do it what was it i wanted to take come this is going back eight years ago so now it might sound like oh well people are doing it now i actually pitch this to a major airline now it's doing it but i wanted to make commercial travel feel like private travel for people i felt like there a bit and there still is an opportunity for people that would pay up to fly commercial but they want an experience that's more private so for example if i'm flying from new york to california and i'm by myself and i'm on a global or a gulf stream and i'm go on round trip that's an expensive flight man that is an expensive of flight or i could just buy a first class ticket for maybe fifteen hundred bucks so instead of let's say that that that flight cost me if you chartered it maybe it's gonna cost you let's just say fifty thousand dollars it might be more it might be i have no i don't even know today what it is but i could spend fifty thousand dollars on of private flight which is amazing or i could buy a first class ticket for fifteen hundred bucks i as a fifteen hundred dollar ticket holder would gladly give you another fifteen hundred dollars united american delta front whoever if you could walk me through a backdoor door and make me feel like mick ja and escort me onto the airplane through the back door and no one was doing it no one was doing it and now they are doing stuff like that and but that's it's like you like un unbelievable the private experience it's like okay there's the jet part of it but then there's the walk on the plane and walk off the plane because when what you did on an airplane do you really care shit doesn't matter i'm in one no one's bothering me in one and in some regard the commercial jet is safer you have more amenities so yeah like but i've been on a i flew first class from new york to la one time for like some meeting i i had never flown first class but i did it because i had was overnight and i had to be ready for a meeting and i get on i was one a and one b or sitting art next to me with steven a smith and i was like how the fuck you guys have play before me and i like looked it up and apparently there is like a private door i guess if you're famous what what is that well i think now several airlines have in their services that do it outside of the airlines it as independent services but my point is so i had the idea but i also felt like i had the buy side that i could deliver to the airline it's because you know i'm involved with the with some nba players and i'm part owner of the atlanta hawk and i so i have i have and my friends are all doing really well that are that are all doing really well i thought we'd wanna have this service so i have the idea and a significant part of the buy side the package together to an airline to bring private flyers onto their mothers ship which is the domestic part of their travel but but anyway to answer your question so things like that good ideas lucrative but does but for me at that point in my life to put i feel i don't know if i have the energy to do that it's gonna take away from tuesday's flag football game i'm not doing it and i don't know if i had that if i still have i don't i don't so still have that well you you but you can't turn that switch off right because i saw you on instagram like you know i don't know a year ago or six months ago or something like that and you were like pickles it's yeah you're were like guys pickles and you know it seemed like you know the guy who was saying coconut water when nobody was talking about coconut water he's talking about pickles so me and the ben are paying attention we're like hey what's jesse it's something doing with pickles okay he's kinda right yeah no brand and pickles and so describe this pickles opportunity that you see now currently this is present day now right we're done with the past now we're talking present in future what do you see in the pickle market well like two hundred to forty five million americans eat pickles every year it's like seventy five percent of our population eat pickles and again it goes back to the to our running conversation i'm starting to see at races pickles at the con at the at the aid stations they never existed ten years ago pickle juice never existed ten years ago at at the eight stations of marathons and your local fight help with yeah so that made my intense was that it has a lot of salt and when i grew up all my black friends would say that they would drink pickle juice in order to avoid a hangover oh yeah russia it's a it's a you know it's a big remedy for hangover overs but my point is like it it put my antennas up but what is this you know just like when i saw the first thing of coconut word on a shelf of like what the hell is this i just went on hundred i'm gonna so so i started so i started thinking about it and i'm like you know what i can't even name free pickle companies and i i love pickles i don't even know phrase this by the way this is the part where he's gonna bring in a focus group head people he's gonna say they don't pickle company and nobody could do it and he's gonna be like that's the business plan well listen so like i i researched like the seven best tasting pickles and of the seven best tasting pickles i think it was like the today show did or something you know it's like like someone credible did it i only knew one cup one of the companies so like if i know one of this top seven best tasting pickles there's a problem in the marketing of pickles it's a marketing problem and i'm a good marketer so it that's where it started and i'm like this is a category with no innovation no fun you know seventy five percent of americans eat pickles the average americans is like ten pounds a year that's more than cereal and i'm like i like it here i like this space i i'm a i'm a pickle guy too jesse same is it claws like the big brand is that right i like claws i like mount olive is it called a val or plastic i i like that company but i think mount olives is the biggest ones i always get the little ones that look like a witch witches toe you were in a middle a pickle shirt i'm not like not saying i'm not big this is a big pickle around with a cloud won't just get back to that company right i don't even know but i'm just saying like you ever seen anywhere wearing the hat jesse oh my god it's like convinced in fact or texting mister beast right now we're we're gonna come into this market too you you just made a mistake by fred we're bringing our our influencers into this market i i believe you have this opportunity why j jay out let's just let's get the beast on the phone what's with the piece beast pickle that's right that's right who needs about david jimmy down miles yeah where's david i need to you go get ben a he seems like get paste guy i need to have feast is low aggravation though i only want the low aggravation will i don't know about that one man olive does two hundred twenty million dollars in revenue a year privately owned it sounds it sounds doable man sounds like our money right guys yeah yeah i wanna thank that very much holding it for us yeah follow yeah shoot taxes over to the ceo of olive of them to let them know to keep that legal old for us alright soon what other ideas you got because i i i i told you i said you know you'll get this because you know you're a you know you're a rap guy when you go on certain shows like the breakfast club or sway in the morning there's like an expectation like okay you come on here you got a freestyle time and we're trying to do that of the business realm or it's like you come on here you gotta bring fresh ideas you can't just only talk about your history and you go you told me go i got fifty ideas of my top drawer sorry say no more but you hit it at me by the way the the the pickled name sound like a wrap name sweet gu bread and butter kosher deal like this these are all rap names man yeah yeah yeah we're about to have a solar goes pickles alright tell me tell me about this idea you gave me three words i don't know what the idea is but you said ready made eight ounce strikes what what you got in mind yeah so i mean i i've been accumulating ideas in my in my top draw for thirty five years i love starting dance sean you know but yeah i mean and i don't i don't mind by the way if you guys wanna interrupt anyone wants to run with this you can i'll take a one penny royalty i'll give it to charity you no know i think like i go back to five hour energy the brilliance of five hour energy is they took a you know twelve ounce energy drink they shrug it down to two and a half ounces right that's what five was and why did it work they they only i believe i believe they only a predominantly sold stores that would put it on the countertop when they started out so like it wasn't buried at g on the bottom shelf and it it was like on the countertop at checkout impulse by data were selling ten million two and a half bottle ounce bottles every week ten million when i look when you look around a retail at the counter at checkout of retail the countertop is incredibly crowded at you go to whole foods there's gum there's mint there's this there's that there's chocolates everywhere you go gas stations there's lottery tickets and then do that the only place that i found like where there's is open area or liquor stores if you go into a liquor store you don't see that the the the the fell state of the stands and the crowd is space and all the cha keys and stuff that you see at gas stations and at at grocery and and and other retailers and i think there's a a tremendous opportunity i was gonna call them quickie ease to have like ready made shots same thing as as five like of your woo woo lemon drop whatever your favorite ka ready made drinks are right at the countertop that are already made fresh ingredients you know where people could just come and grab and go and have a ready meat cocktail that they can bring to tailgate parties etcetera i'm not saying it's gonna it's gonna be great vodka but i see an opportunity and if not that someone should go make a deal in and in a very fragmented now you got me thinking sean now i went this is on my radar it but here we go look like the freestyle we're talking about is pointing back really even a better idea would be to go liquor stores are that is the most fragmented market out there they're all mom and pops there's no like chain of liquor i be out like you know you go to your local liquor stores like the guy my neighbor owns a liquor store i go there like get the wine and this and that do a roll up go pay someone for the go rent the countertops of all the liquor stores and then go to the biz one of the big boys and be like hey guess what i own ten thousand countertops you wanna wait go widget there you wanna put your fucking widget there keep the money water keep the money warm oh i love it the other about real estate probably we could probably talk for fifteen minutes about the opportunity and come up with ten ideas around that you know that's where it starts it starts with just like bad idea or better idea the idea yeah i exactly exactly and you're kinda like i think the background of wrap i'm not i'm not joking this i i think the the way the brain can sort of like it's not censor itself and wait till it has a fully formed perfect idea but actually just start to go and then know the arm i'm gonna hop from this to this to this so this there yeah that'll be the line and that's all i need to do is get to that one that one line i'm gonna show you this too this is this is something i'm selling now this is i don't know are we on are we youtube too are we all on only here no video video video well this is by twenty twenty four all planned out this is next year fully almost fully date what my year looks like my race is my what's orange there's a lot of orange on that what does orange stand for orange orange of art so when sara sold span she wanted to do a lot of traveling so this year we committed as a family to go on the road so all the orange as crazy as this looks this all travel wow we're going to africa we're going to new zealand but it's all mapped yellow what's yellow it's yellow and what's what's green or or blue whatever that is yeah yellow one my race is and events green is my speaking green is oh birthday is this stuff things dope not blue and i wanted to ask you about this because you are super legit as far as like what you've actually been able to accomplish your level of success and you do stuff like this you have like the big ass calendar club or whatever like that thing is called big you know that's a product you make it's like a course you have and i always surprised that you're doing those things and you know what's what's your thought process on like or the running club or the running club like how do you pick projects yeah i mean i think this goes back to the earlier question you asked me about reinvest in other businesses and stuff like that how old do you guys how old you sam thirty four i'm thirty five so i got i got two decades on you guys and but i got i got the most experiential decades i believe on you guys if the forties and fifties thirties forties fifties you know for me there's i'm in i'm in a coaching space you know i speak a lot i have coaching programs the calendar but even the events that i do the run running races and this kind of stuff it it all has an element of getting people to do more than they thought to inspire people to do more than they thought they could but but to answer your question and the reason why i just said that is the gal works with us in our family office was looking at all the businesses and and asking me like i don't have a sales rep on my payroll i don't i'm not going crazy on the marketing and this and that and it's really word mouth and she looked at the numbers and she's like you know do you wanna scale this and what are you doing wanting why don't you just go do the liquor idea or the airplane idea where this idea or that idea or any of the ideas in your drawer and i pulled out my phone and i said kendall all these are from today all of these messages are for today pick one read it i said i can't and it was like you changed my life or this has really inspired me or you you know i did this i saw my parents i haven't seen my parents in a long time and you know i talked about the importance of that very often you know about not losing sight of what you already have while you're chasing your entrepreneurial dream your health your family your friends there's no business in the world that would give me the return on investment that i'm getting right now there's nothing i could do what build another marquee jet work twenty hour days i mean like that's not gonna give me that sense of impact legacy for my kids and just the feeling quite honestly that i have i mean like it's ind a wire is a wire you get the wire and it's like the same feeling you get when when you sell a business is the same feeling you get when you finish the a marathon you walk an old lady across the street where you do anything that makes you feel good about yourself i swear to god it i have the right to say that because i told five of them i have the right to say that it's the same feeling and for the for for very very for a lot of people chasing that waiting twenty years to sell a business or something to have that feeling when i feel like i get that every single day and that's a really powerful place to be in your life at fifty five and and that's the reason man and and so you're right i add these businesses and you know there's no real plan around them people like what you would i don't i don't know i'm just gonna enjoying how it's making me feel right now and what's wrong with that i gotta scale just to scale because everyone told me out have to scale i don't wanna do that man right i did that so a question that we like to ask people is it's a really simple question but we we learn a lot which is like what do you do with your money so like you have a really interesting lifestyle i agree with you i'm not i i don't like the elon musk's path of all these sacrifices and doing things for the sake of humanity i'm like i'd rather have a fun life and you have a really sick life i mean i i i i'm i'm a former college athlete runner so i i like watching what you're doing and i like to work out and do these podcasts and have a lot more fun than just work what do you do at your money and when you're financing it this are you just are you using your speaking fees to finance it and then you have your marquee jet money and just one big account in the in the markets how's your portfolio set up and what are you doing your money well just you know it's i don't know male like we we we never really think about it that much i know it's i don't wanna d it or sound in any way obnoxious in fact i'm incredibly grateful but like it goes back to the relationship with money from the beginning of the conversation we're not trying to triple it or quite dr our money like we don't really think about it like it's spread out strategically and we live our life what's your monthly burn i mean what what does one need to spend per month to to do that i like to ride my bike i like to run i like to swim i like to speak in public i like to be around my family and friends what whatever that costs me stand is what i'm gonna spend on it how's that for an answer yes sam i so understand i wanna ask you about something that you have talked about that i really liked which is around your life philosophy so you have a few of these that have made an impact on me you i don't know where i saw it some tiktok clip or something you were talking about like this three minute daily thing you go three minutes and i forgot exactly how you phrase it but it was like compliment you go i i can network in three minutes right i i can i can invest in my friends my my network in in just three minutes a day and i'm always interested in anything that's like you know the six minute abs i i i tend to be interested in the like you know shorter time frame type things and do you go compliments what was the other ones you go compliments complementing congratulating consistently explain that that philosophy because i've been doing that now where i i basically go through my text list and i'm like who's somebody i could compliment boom send it out and they love it because they're like you know i'm thinking of them we haven't talked in a little while it's really simple for me to do this is like kind of like a of actually like a very effective little tip i want you to share it with here well in my twenties i didn't have a way to to i had no that was really out of super tight budget i was writing ten handwritten letters i'm in a year not every single day but pretty much writing about ten handwritten letters a day and that was my entire marketing strategy and i realized that you know it it's a great way to get through the the clutter of email dm social you know all this stuff because a lot of people don't check their emails or their assistant does whatever but everyone reads a handwritten letter so i the three minutes a day is you know i have sent the text you mentioned the cake academy and coach k i sent a flew to carolina that's too long ago and i said coaching a text thanking him for having the event and i said you don't only have to respond i just wanna let you know like it makes me feel like an eight year old for five days yeah i wanna thank you for for doing this i know you don't have to do it and it took and like i realized like he might share that with his team like grabbing an impact like look at look at this note or tell his wife he might do nothing but now if i see coach k i have permission to go over them him and say coach i send you a text like i know if you got it but like i add that permission to do it i'm not coming out a left field like oh hey coach you know like well you just so that's took me forty five seconds to hit sent write it and it that so i was like okay if i did three of those a day and just took three minutes and just started hitting friends suppliers manufacturers flip whatever over the course of the year often a thousand i will plant a thousand permission slips all over the country and world three minutes a day so in cork when i take my kids to school or pick them up i just fire off a couple of emails or call them or whatever so that was that theory the compliment congratulate cons consulting is really just kind of three things that i i like to to remind myself to do to maintain and build authentic relationships authentic relationships not relationships authentic relationships so for example if you have somebody in your life that's grieving and you'd always reach out to them and you guys are young but you'll see in the next ten years friends will start to get diagnosed with stuff parents grandparents are gonna pass away like your life's gonna change man if you have someone this grieving and you don't reach out to them they will never forget it build a ne oh the that the you can't human nature you can't even help but take inventory who reached out and who did you're just aware i just lost my father i know everybody that called me i know everybody that didn't call me and the people that didn't call me don't get a pass they don't get a pass so you always wanna consult the people that it you know something happens to a friend in your life that's great you wanna congratulate up you know and then you wanna compliment it you know sean man sam listen you guys have an amazing podcast you did it yourself you know you guys decided to like sold some businesses and here you are you know bringing on inspiring people to inspire entrepreneurs all over the world and i just wanna congratulate on you on your success man i'm you know you just call someone out of nowhere and default to calls or text either way i just think i personally like handwritten letters here's one because i feel like the intent it takes a little longer but to actually get a stamp lick go to the mailbox put it in the mailbox it's received completely different than just sent what you know like in the peck order but you don't have the ability to do that it takes too long but at the end of the year i do like to write twenty five to fifty handwritten and thank you letters every year i have a whole close out the year process that i kinda teach people but like and that's one of you know but you compliment you graduated consult and you do that to people and like if i sam if i hit you god forbid you had something bad and and and i don't even know i just met you for the first time other than the question about my bur rate i love you so if i if i would mu you up after one meeting and they stand in i heard about x y z and i'm so sorry that happened to you and then four months later i call as they stand and you guys just hit five million downloads a day congratulations man and then i call you up the of the end of the year and as said said i just wanna let you know man damn question you asked me about about my brewery you know i would re thought it and i wanna compliment you because you asked a tough questions and you know what that's the seat that you're in and i give you credit for asking questions like that to people on the other end and i really admire you for that i do those three things in that year you're gonna think differently about you'll be his hero you'll be all our heroes to be honest with you that'd be incredible alright dad what what sean you laugh about that what laughing about it let me ask your question who does wanna be hero you're right who doesn't wanna be a hero we like if you tell me i don't i don't have to run into a building and save save someone i can just do that and i could be a quote unquote hero like you know what i build my career doing that well so this is about relationship you also have others about skill building life experiences explain some of your other kinda of life rules because i think these are really worth sharing you know people i think will be entertained and inspired by the business stories but my hope is that that actually was just buying the right to drop a little wisdom on them at the end here because this is the stuff i've liked the most from you from your story so so tell talk about you know the sort of miss or the the a kevin's rule like i think these are pretty foundational yeah well that goes into kind of the planning that i showed you on the calendar and i really to do do two or three things every year at the beginning of the this is actually perfect timing i don't know when this is gonna air but like november december when you look into twenty twenty four or the next year i try to have one big year defining thing on my calendar every year last year was my bike ride across america twenty fifteen was living with the c all the book i wrote twenty seventeen i lived on a modest twenty sixteen or something i started twenty nine o twenty nine in this company with my partner so there's an old japanese ritual called them so and we took the liberty to kind of create our own version of what that means but basically it means that every year you do want well the way i've interpreted it is you do one big year defining thing and you you should have something to show for it every year by the way if you're thirty five years old i don't wanna i don't just rounding up here and you live to be eighty five so you at that would be fifty year defining things between now and the end of your and at the end of your run that you have on your life resume that's pretty damn incredible the second thing i do is something i call kevin's rule named after my friend kevin which is every other weekend i do something i normally want have done like instead of watching like a george the georgia football game i might take my kids fishing i might go to a conference i might you know watch spent a couple of hours learning something i i didn't know i coined at kevin's rule because kevin and i were camping him out washington with our kids and it was like i go cab there's eight it's like the winter it's snowing we're sleeping outside in a minus forty sleeping bag minus twenty sleeping bag i'm like chad there's eight billion people in the world man it's only us on this mountain you know it how often do you do this because he invited me he's like oh every other week he's a police officer i do so every other month i do something i normally went to done and i'm like what do you mean he's like so at the end of the year i got six many adventures if you're thirty five and you lift to be fifty five and you have six many adventures that's three hundred mini adventures and thirty fifty i'm sorry fifty year defining things you're miss so and three hundred mini adventures john i don't care how much money you have or how little money you have at the end of your run if i go to you when you're eighty five years old on your death debt and you're like jesse man thank you i took your advice listening to my podcast and i now have fifty unbelievable adventures i've done the grand canyon i've taken my family yeah and i have three many adventures that i've done and by the way it only took six days of the three hundred and sixty five days of the year seven days of the three hundred sixty five days of the year it's a two percent is that two percent six percent what is that you a rule here we don't do public math so don't worry you're off the hook yeah that's a great run that's a great rod have you ever hung out with rob beard you you guys are really similar we had him on and i i think i've said publicly he's one of my favorite people and you have the similar quality where you just have a framework and you know what you like and you stick to it and you're really intentional and i live life on your terms which is what i think the highest calling thing we respect on the pod is somebody who defines their own terms and then lives on even if you don't even if somebody doesn't successful people don't do that like even people who are wealthy they're like i fucking hate my life because i'm tied to this job that i actually don't like doing and you're a great example you're you're your your definition tends to be exciting and awesome because you do all these adventures but it didn't matter what your your definition of of like your framework is you've done a cool job of defining it and sticking with it and i appreciate that well white will thing that's different is rob's is all about maximizing he's like efficiency how much how do i use my time how do i allocate it and how do i get the most done in that time whereas i feel like jesse's almost like it's a different relationship with times like how do i have the maximum number of of incredible experiences and amazing relationships and moments whether that moment took five seconds or you know five days or five weeks it doesn't really matter it's like maximizing kinda like squeezing the juice out of out of the fruit you know versus versus you know trying to optimize every moment it in a in an in a generation of hustle and grind which is so obvious no shit you gotta a work hard that message gets lost and you don't wanna give up your twenties in your thirties and your forties and certainly not your fifties if you can avoid it just grinding and chasing something that you can get the same feeling kill something else well we feel lucky for having having you on very early on on the podcast sam introduced me to a guy mike brown and he said one line on the pod that changed my life he goes he goes yeah my theory of life is find the people that you love and then do life with them and i just thought oh there's a north star for me like that's the new north star you know maybe something maybe something more wise will come take its place but that's it and that's the pod yeah i feel like i could rule to world i know i could be what i want to from at all in and like a days all on a go less travel never looking back

Episode Notes

Episode 504: Shaan Puri (https://twitter.com/ShaanVP) and Sam Parr (https://twitter.com/theSamParr) talk to Jesse Itzler (https://twitter.com/jesseitzler) about how he turned $118 into massive businesses including Marquis Jet and ZICO coconut water.


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Check Out Sam's Stuff:

• Hampton - https://www.joinhampton.com/

• Ideation Bootcamp - https://www.ideationbootcamp.co/

• Copy That - https://copythat.com/


Check Out Shaan's Stuff:

• Try Shepherd Out - https://www.supportshepherd.com/

• Shaan's Personal Assistant System - http://shaanpuri.com/remoteassistant

• Power Writing Course - https://maven.com/generalist/writing

• Small Boy Newsletter - https://smallboy.co/

• Daily Newsletter - https://www.shaanpuri.com/


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Show Notes:

(0:00) Intro

(4:30) $10K for 10% of your life

(7:30) Can vs Will

(13:30) Going from Jingles to Jets

(17:30) Jesse’s underdog mentality

(23:00) Marquis Jet: The craziest origin story of all time

(32:30) How Marquis Jets worked

(36:30) Getting celebrities as first customers

(43:00) Zico: Finding profitable super niches

(50:00) Business Idea 1: Private travel experience for commercial travelers

(54:00) Business Idea 2: Pickles!

(58:00) Business Idea 3: Quickies-Ready-made 8oz Drinks

(1:02:00) Jesse Itzler's Philosophy on Money

(1:08:00) Jesse Itzler's Philosophy on Relationships: Compliment, Congratulate, and Console

(1:08:00) Jesse Itzler's Philosophy on Defining a Year


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Links:

• Jesse Itzler’s website - https://jesseitzler.com/ 

• New York Knicks theme song "Go NY Go" - https://tinyurl.com/9yfach3r

• Living with a Seal - https://tinyurl.com/wdjkj2je

• Marquis Jet - https://www.marquisjetset.com/

• All Day Running Co. - https://www.alldayrunningco.com/

• Big A## Calendar - https://tinyurl.com/22ujummp

• ZICO - https://zico.com/

• Sara Blakely - https://tinyurl.com/6ye642w4

• SPANX - https://spanx.com/



Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more.

—

Other episodes you might enjoy:

• #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits

• #209 Gary Vaynerchuk - Why NFTS Are the Future

• #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto

• #169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett

• ​​​​#218 - Why You Should Take a Think Week Like Bill Gates

• Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More

• How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More

Podcast Hosts

  • Sam Parr

    Sam Parr

    Hampton (joinhampton.com):
    My community for founders.
  • Shaan Puri

    Shaan Puri

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