Learn why you should invest in your job (even if you don't like it) and how it will take you from where you are to where you want to be during this training taught by Clay Clary, the Entrepreneur of the Year award winner.Sign Up to Watch
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-What's up, guys? My name is Daniel McKenna, and today you get to sit down with Clay Clark, and Caleb Taylor. And we're talking about the three reasons for having a job. Now if you are like many Americans out there, you might not like your job all that much, or at least not enjoy going to do your job. Well, in today's lesson, we're going to talk about why you should invest in your job, and how that's going to get you from where you are now to where you want to bewhen you want to grow your business later . Are you interested? You probably should be. Let's go.
-Clay Clark. How are you doing, my friend?
-I'm doing good. I've got this back. I woke up this morning, and my back decided to go out.
-So I feel like I'm-- it's my physical pain, but I'm pushing through it.
-Yeah. So if you just fall over, we know why.
-Yeah. Well, I can even really fall. I'd just would kind of go-- I might just going to--
-Well, listen. Today we're talking about the three reasons for having a job. And I know you personally. And so I know some of those for you is being able to buy yoga pants for yourself, or organic kale at Whole Foods. Those reasons, are those the kind of reasons we're touching on today?
-I feel like you somehow are reading my diary. Because I wrote there, "Dear Diary, I hope to buy yoga pants."
CLAY CLARK BUSINESS MENTOR: People love it when I wear them.
-Well, it helps you when you're reading books and what not. It's a freedom aspect. So listen. Today we're talking about why it matters to have a job. Three reasons to have a job. And I wanted to know, though, does any kind of job count? If you're a cat juggler, does that count? Are you endorsing that as--
CLAY CLARK: I am honestly saying any job. Controversial thought here. Every job is an entrance to another opportunity.
CALEB TAYLOR: Wait, wait. Every job--
-Is an entrance to another opportunity. So if you have a job right now, you're working as a barista. You're working at a mall. You're working as an accountant or an assistant to a doctor. No matter where you are, you have this great opportunity to really build relationships, and to build some skills, and to really earn money, yes, but let's focus on learning, not just earning.
-Now I don't think most people understand or think of their job as an opportunity, lots of times. I know a recent Gallup poll said that 70% of Americans hate their job. Not only don't think of their job as an opportunity, but passionately hate their job.
CLAY CLARK: I realize that not everybody watches Star Wars 1,2 and 3 like I do. The originals. Technically, it's episodes 4, 5, and 6. I realize not everyone watches those every week like I do.
CALEB TAYLOR: Every week?
-Well, I watch them often. But the thing is, is that hate is a strong word. The emperor was into hate, and Darth Vader was into hate. When you say hate, I mean is a strong word. To hate your job.
CALEB TAYLOR: Well, and a lot of people, though, are at jobs that they don't enjoy, that they hate. And not only do these people hate their jobs, though, but it's not even helping them get closer to achieving their goals. USA Today says, "over 1/3rd of Americans of all ages have nothing saved for retirement." And you might think, well, young people don't think of that. Listen, people ages 50 to 65 have absolutely nothing saved. 26% of those people, 50 to 65.
So why are people in jobs that they hate so much if it's not even furthering them to achieving their goal?
-Well, I want to say this-- if you're at a job, and I'm going to use my board here for a second.
-Are you going to write some Clay-mations or something?
-Some Clay-mations-- with a back injury, it's sort of a slow walk over to the board. But the thing is, if you're here right now with your career, if this is where you are, and you know where you want to be, you know where you want to be in terms of your financial goals, your life goals. If you know where you want to be, then your job you're at now should help move you a little bit along this path. And I'll just give you a quick example before we dive into it.
But when I had my first job and I'm working construction-- my first serious job was construction. And when you're working construction, I'm talking about we're hauling massive quantities of concrete. We're building things. We're getting up at 5:00 in the morning. We actually got to work at 5:00, and we'd work from 5:00 until about 7:00 PM. But that job helped me earn that 20K that I needed to buy my first DJ system. Without that first $20,000, I could not have done that. And that led to the DJ business.
But because I was so terrible at that job, I had to work as a DJ, and at Applebee's, and at Target simultaneously. And that led to the next job, which led me to tax and accounting software, which I met Tim Redmond. And that led me from that job to the next. So if you look back now and you look at Thrive over here-- Tim, who I met at this third job along the way where I was an intern, is now one of our board members.
Or you look at some of the investors I met while working at Target. Those are guys who are investing in the company now. But you have to work to build that reputation, that education, the compensation. But if you don't know where you want to go, it's hard to see-- because I can tell you, when I was working 12 or 14 hours a day doing concrete, I didn't feel like I was getting where I wanted to go. But I knew that it was getting me where I wanted to go, because I was saving money each week to buy that first sweet DJ system.
CALEB TAYLOR: I
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-The premise here is to remind you why you're at the job you're at and help you evaluate why you're there and make sure those goals are defined. What we're going to be going over today are these three principles-- when you can't eat, you can't dream. Two-- building your network will build your net worth. Three-- building your reputation and your practical education. Let's dive on in here.
First one is when you can't eat, you can't dream. Maslow's hierarchy of needs-- some people have heard of it, some people haven't. I want to go over this and marinate in this for a little bit right here. The definition for Maslow's hierarchy of needs is a system of the motivation of all humans that is unrelated to rewards. It is often depicted by a five-level pyramid. You'll see the graphic up here on the screen.
This five-stage model can be divided into two categories-- basic needs and growth needs. The first level of the pyramid is physiological motivation, then safety, then social, then esteem, and on the very top is self-actualization. Why is it worth spending any time on Maslow's hierarchy of needs right now?
-A lot of us have jobs and a lifestyle that can't keep up with that job. So when Vanessa and I, my wife and I, when we first got married, I was working at Target and at Applebee's, and I also had a job where I was working at a place called Faith Highway. We sold evangelism commercials to churches.
Those three jobs produced a weekly income-- weekly, for all that, 70 hours a week working, sometimes even 80 hours a week, with tips and everything, I was generally lucky if I could make $800. And my wife was going to college. So right here, right at the bottom of the pyramid, we've got to focus on eating. We've got to focus on shelter. We've got to focus on those basic needs. And I see people who are making $800 or making maybe more than I was making then, or maybe a little bit less, but they're out there buying a luxury apartment. They're buying the luxury car. They're upgrading.
I'm talking about when we were here, we ate chicken panini. I'm talking about chicken panini. Why? Because I was aware of a budget. The problem is because of credit-- the easy access to credit and credit cards-- so many people are getting out of school with student debt. So they're like-- I might as well just get some credit card debt. At a certain point, you're like-- I already have so much debt. Why does it even matter? So people start financing their $7 salads.
I'm telling you-- we didn't go out to eat, ever. I'm not exaggerating. There was never a time at all, during those jobs, where I ever went out to lunch. I never ate out for lunch. I always brought my brown-bag lunch. Every day. And we were eating these $0.96 chicken paninis. Why? Because I didn't have the money to get here. And I realized if I couldn't provide basic shelter and food and that kind of thing, I can never move up. We've got to start to save. Because when you save money, you're buying opportunities.
-I don't want to get too personal here, but I know that you, during this time of focusing on that first level, went for a period of time without any air conditioning. Can you go ahead and do a little story time and tell us what that was like-- what why you were doing that and how that applies to this principle?
-One, it was humiliating. People would come by and visit me a lot. I always tried to play it off, like-- hey, let's meet up at Taco Cabana.
-Clarify the setting here. You live in Oklahoma.
-It's 100 degrees in the summer and maybe 20 in the winter.
-There's some serious humidity issues.
-It was extremely hot and extremely cold. But we had love. All you need is love.
-People would say-- hey, we should get together. And I'd go yeah, let's meet up at Taco Cabana. It's right down the street. And you could basically order tortillas with salsa for $2. And then I would get water. And I would just be there. I would play it off, like I already ate, or I'm good, or whatever. I didn't have enough money to afford food. I was a married guy, and I didn't have any money.
And I couldn't afford air conditioning. And if they did ever come over to house or to the apartment, I was always embarrassed, because it was so hot. I felt like I was a failure. I felt that my business was terrible. I felt like I was an idiot. But I also knew that I was saving money up, and I had read this book called The Millionaire Next Door that talks about how the average millionaire started off-- basically poor. Three-quarters of Americans started off poor.
I had this hope and this faith that I was going to get there. Every week I would build up my bank account-- $100, $200. I remember the first time I had $1,000, then $2,000, then $5,000, then $10,000. It's a deal of deferring what you want now for what you want later. It's the maturity of thought of learning that this job that I'm at now, I'm here to build a reputation. I'm here to gain skills. Not feeling bad about it, wear it as a badge of honor, like I've been through this; I've learned to sacrifice.
-So it's deferring, you said, what you want now for what you want later.
-There's a quote I like to tell people. If you buy what you want now, you won't be able to afford what you need later.
-I'm going to go ahead, and we're going to do a little notable quotable here. It's from a well known book-- the Bible. You can take it or leave it.
-Bible, Schmible, buddy! That's controversial.
-Here we go. Proverbs 10:4 says, "A slack hand causes poverty, but the hand of the diligent makes rich." And then Proverbs 12:24 says, "The hand of the diligent will rule, while the slothful will be put to forced labor." This is an important aspect of this principle. If you're focusing on the basic needs, you've got to have that diligence if you want to move up to start thinking about your dreams.
-About half the audience probably disagrees with you and your quoting of Proverbs. I will say, in just a purely secular perspective, there are people in the office. And we have an office. We have core businesses that we run, and then Thrive is my baby; that's what we do. But there's other businesses that we own. And I will tell you in the photography company, it's hysterical. You'll see an employee sit there and text, text, text. She'll be busy texting, texting, thinking I won't notice. Texting. I will fire her as soon as possible. And I don't feel bad.
I will talk to her, and I'll say, "Hey, I want you know-- you're not performing. Stop texting. Hey, I need you to focus. Hey, I need you to engage." But eventually, when you're at the end of the month, at the end of the week, when you've done half as much work as the person next to you, guess who I'm going to promote? I'm going to promote the guy who's diligent.
In our own photography company, right now, we have a young man who in the past three months, he's doubled his wages. Because he has decided he wants to do that. So as he's been diligent, I give him more tasks, and I give him more tasks-- he moves his way up. So I am choosing to reward him. But it selfishly benefits me as the boss. If I put good people on good things, then they move up there. But if you give someone a small task and they can't handle the small task, I'm not going to give you more.
The mindset that I had back in the day, when I was at Target for a while, was-- I'll start working hard when you start paying me good. You start paying me more, I'll start working hard. You promote, I'll work hard. If you will promote me, I will work hard.
-We've got to take that first step.
-You have to start working hard before you start getting the pay you want.
-That's huge, and I don't think that a lot of people think like that.
-Let me ask you this, though-- what is the action step? What is the action step? Is it working hard before you're seeing the reward? Is it the diligence?
-The action step right now is one, no matter what job you're at, live below your means. Live below your means. Move into the garage. Get with a neighbor. Move in with a friend. Cut those expenses. Be very, very aware, right now, what you have to do to eat. Get a third job. Get a second job. Get an eighth job. I don't care.
Honestly, no exaggeration-- I have worked many, many times, many times my life, for more than 70 hours a week to make it work. Guess what-- so did Steven Spielberg. Guess what-- check the biography of Steve Jobs. So did he. Guess what-- check the biography of anybody who's ever been successful, and you'll notice-- they all had three jobs. It's not like it's a tough deal. It's just life. You're at where you are right now to help you provide for your basic needs and to move a little bit farther down the road.
-So cut down on the costs. Focus on the basic needs.
-I love it. OK, principle number 2 here is building your network will build your net worth.
-Oh, that's tough!
-Got a little notable quotable here from Napoleon Hill, your favorite. This is what Napoleon Hill says. This is how he defines the mastermind. You can read more about in his book Think and Grow Rich. This is what he calls the mastermind-- "A friendly alliance with one or more persons who will encourage one to follow through with both plan and purpose." Now, keep in mind-- Napoleon Hill was the guy. He was pretty intentional about building his mastermind. He had some incredible names in his mastermind.
-Backstory-- he actually was a guy who wrote for Ladies Home Journal. He was a writer, and he grew up poor. And he says-- I want to do something big with my life. I want to interview the world's most successful people and ask them how they did it. And at the time, people were like-- whatever. He says no-- I really want to do this. And so he reaches out, reaches out, reaches out-- he finally gets hold of Andrew Carnegie, who was the second wealthiest man in the world.
Andrew Carnegie says-- I will give you the knowledge that you seek in your brain. I'll teach you all this stuff-- I'll help you write your book-- only if you're willing to devote the better half of a decade to doing this. I'll pay for your room and board, but I'm not going to pay you. So he starts to say-- I think I can do it. And he said he was almost scared when he decided to take the project on.
Carnegie starts introducing him to his best friends-- Thomas Edison, William Wrigley, Henry Ford, Harvey Firestone. Pretty soon he knows all of the major players. It would be like going to work for Larry and Sergey at Google right now, and they're like hey, you mind doing a little dinner here with a little Mark Zuckerberg action. Or do you want to hang out with Oprah this evening? Or I'm going to go over to Richard Branson's house, and we're going to go ahead and do a little jet ski. It's unbelievable the connections at the time that he had.
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