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This business coaching lesson shares the Walt Disney Story.

Results-Focused Training, Tools, and Workshops from Expert Business Coaches.

Featured Coaching Excerpt - Notes & Transcript, Part 1
  • Today's Topic: Walt Disney’s 4,015 Night Journey to Becoming an Overnight Success
  • Notable Quotable: “Work like hell. I mean you just have to put in 80 to 100 hour weeks every week. [This] improves the odds of success. If other people are putting in 40 hour work weeks and you’re putting in 100 hour work weeks, then even if you’re doing the same thing you know that… you will achieve in 4 months what it takes them a year to achieve.”
    -Elon Musk
    (He is the founder, CEO and CTO of SpaceX, co-founder, CEO and product architect of Tesla Motors, chairman of SolarCity, co-chairman of OpenAI, co-founder of Zip2, and co-founder of PayPal. Wikipedia)
  • Ask Yourself: What am I willing to trade off to achieve success in my life?
  • Notable Quotable: "The price of success is hard work, dedication to the job at hand, and the determination that whether we win or lose, we have applied the best of ourselves to the task at hand."
    -Vince Lombardi
    (American football player, coach, and executive. He is best known as the head coach of the Green Bay Packers during the 1960s. Wikipedia)
  • The 6th Day Principle: Genesis 2:2 – “By the seventh day God had finished the work he had been doing; so on the seventh day he rested from all his work.”
    -The Holy Bible
  • Lesson Nugget: Insanity is doing the same things over again, and each time, expecting different results.

(hip-hop music) Oh, sick. You know, someday. That's a good one. It has a deep thought. That's a couple of bonus nugget for ya. Anyway, he starts this business with Ub and they're off to the races. They're going. They're scaling. They don't become an overnight success. Well, they're trying to scale but they're, like, failing. They're two dudes. They're starting a business. They got like $684 a month to live on. You add that up together, they've got, like, a budgeted two dollars a month to spend on marketing and growing their company but they had to start somewhere. There you go. We're talking about 1919. 1920, both Walt and Ub, they get a job, here, working. They both get jobs in a Kansas City slide company. Tell us about that. Well, basically, these guys now get another job. The two guys, they go and they start working at the Kansas City Slide Company. The reason why they went to a different job is they're trying to make some more money. I want to give you a little quote from Elon Musk because this quote blows my mind. I think that people don't think about this. I don't-- I have been self-employed since I was 15 years old, in some capacity. This is my 20th year doing this, you know? I know I look like I'm 107 years old but I'm only 35. Here's the thing. This is the quote I wanna give to you. "Work like hell. "I mean you just have to put in 80 to 100 hours per week. "This improves the odds of success. "If other people are putting in 40 hour weeks "and you're putting in 100 hours, then, "even if you're doing the same thing, "you know that you will achieve, in four months, "what it takes them a year to achieve." I mean, Elon Musk is the guy who helped start PayPal. He's the CEO of Tesla. He's sending rockets to space. He's building Solar City, the solar powered company. And guess what? He just said the secret of success was to work-- How many hours, Jose, did he say? I think it says 80 to 100. Who does that today, huh? 80. Bernie Sanders? (laughs) I don't remember-- Feel the burn. Check it out. 80 hours. I'm talking about 80 hours. I feel like it's wrong for people to work more than 30 hours a week. Probably. But with that mindset, you'll never have success. You just gotta do it. And you gotta have trade-offs. You gotta figure out, "What am I willing to trade-off?" Quit watching a stupid show you don't need to watch. Or quit buying things you don't need to buy. Or quit not having a roommate. Get a roommate. But if you want to have success, guess what? It's going to take you 80 hours a week. I've never met a successful person who's ever built any business that's worth anything, that's working 40 hours. If you're the guy who leaves at 4:52 on Friday and you get to work at 9:01, not only are you not gonna be successful, but you deserve to fail. Because it doesn't even make sense. It's like gravity. It's like me being mad that I can't dunk a basketball. It's a law. You gotta get paid for the time you put in. So that's how that works. Back to you. Absolutely. These guys are pressing through, overcoming adversity. I'm sure in those hours and starting these companies and these jobs they dealt with a lot of stuff. We're talking about these guys while keeping their daytime jobs-- They're keeping their full-time job, here. They're working here. They start something called the Laugh-O-Grams? Yes, they start a company while having a job. What? You mean they had a job and then another job at the same time? Yes! They had to work two jobs. And you know what? You have to work two jobs, too, probably. Maybe you're watching this and you need to work two jobs right now. Dr. Zoellner, our CEO, he literally owned his own optometry clinic and had another job working at another optometry clinic at the same time to make ends meet. That's how he did it. That's the secret. So, we're gonna teach you the specific strategies and systems to do, but you've gotta be willing to sacrifice. Another little thing I want to throw out here for you, okay? For those of you who read this controversial book called the Bible, I know some people are going, "Oh, that book is terrible, it's so divisive." Well, anyway, Genesis 2:2 in this book called the Bible, If you want to mispronounce it, you can also call it the bibble. This is what the verse says, "By the seventh day God had finished the work "he had been doing. "So on the seventh day he rested from all his work." What am I talking about? I'm talking about that God, in the Bible-- Now some of you don't believe in it that's fine. But God, in the Bible, was stating that He had to work for six days to create the Earth and He rested on the seventh. Maybe, just maybe, there's a theme to that. Maybe when Elon Musk said you had to work 60 to 80 hours, and God saying you should work, you know, six days, maybe there's a pattern. Probably not. Let's just keep on working 40 hours a week and expecting things to get better. Let's make no changes. Let's just keep doing the same thing, but expect a different result. Let's do that. It's a little bit insane there, right? Literally, if you want to change you're life right now, the great news is you can do it. Walt Disney did it. You can do it, too. There you go. Hey, Clay? Then in 1922, Walt was 21 years old, he gets an investment of about $15,000 to take Laugh-O-Grams to the next level, but what happened there? Well, what happened there-- Bruce, I'm talking to you, I'm just harrassing her. Bruce, he's one of my favorite guys. I love Bruce-- We love Bruce. I'm gonna put in extra sauce on this one for Bruce because Bruce is very saucy. He's a beautiful man.

Featured Coaching Excerpt - Notes & Transcript, Part 2
  • Fun Factoid: $15,000 in 1922 would be equal to $211,532.14
    (http://www.bls.gov/data/inflation_calculator.htm )
  • Fun Factoid: The Bureau of Engraving and Printing produces 38 million notes a day with a face value of approximately $541 million. That doesn't mean there is $541 million more money circulating today than there was yesterday, though, because 95% of the notes printed each year are used to replace notes already in circulation.
  • Lesson Nugget: You have to give yourself a 3% annual raise because of the devaluation of money.
  • Lesson Nugget: Don't invest in business ideas, rather invest in diligent people.
  • Notable Quotable: "Strength does not come from winning. Your struggles develop your strengths. When you go through hardships and decide not to surrender, that is strength."
    -Arnold Schwarzenegger
    (Austrian-American actor, filmmaker, businessman, investor, author, philanthropist, activist, former professional bodybuilder and politician. Wikipedia)
  • Definition Magician: A legal proceeding involving a person or business that is unable to repay outstanding debts. The bankruptcy process begins with a petition filed by the debtor (most common) or on behalf of creditors (less common).
    (www.bankruptcy.findlaw.com )
  • Fun Factoid: Famous Entrepreneurs Who Went Bankrupt: 1. Donald Trump in 1990 2. Henry Ford in 1903 3. Walt Disney in 1901 4. George Foreman in 1983 5. Larry King in 1978 6. MC Hammer in 1996 7. Anna Nicole Smith in 1996 8. Ulysses S. Grant in 1881 9. Kim Basinger in 1993 10. Abraham Lincoln in 1833

(hip hop beat and vinyl scratching) But anyway, check it out here. If you think about, what is $15,000? Well, $15,000 back in the day, if you take a little inflation calendar and you look at this I wanna make sure we're getting this, 'cause I think a lot of times over history, we lose the value of things, we don't understand how things relate to each other. So think about this: 1922, how much, if you had $15,000 in 1922, what would that be worth today? What would that be worth today? That's the question I ask you. How much is $15,000 back then, back in the day, how much is that worth now? Well, that would be worth $211,532.14. $211,532.14. How do I do this? We're gonna put the calculator up and there's a thing called an inflation calculator. And a little bonus knowledge here for you, every year, the geniuses who work in our federal government, they spend more money than they have. And because you can't do that, they have to do what? Print more money. So how do they print more money? They invented this thing called the Federal Reserve, which is not actually owned by the federal government, and there is no reserve, which is kinda funny. So it's the Federal Reserve, it's not federal and there is no reserve, but what they do is they can print money. It'd be like if you had a checkbook and you ran out of money and you're like, I guess I'll just print some more money. So Bruce and I, we just hit print on our little Epson Stylus printer and Bruce was like, "Clay, this looks kinda shady, "it looks like it's printed on an inkjet and it looks pretty "I mean, we're running outta ink here," and I'm like-- "But it's so much fun." Bruce just print that, (Bruce laughs) let's go to Office Depot and buy some more stuff. Well if everyone in the world can do that, what happens over time? Just like if you're pouring water into Kool-Aid, it devalues the currency. So over time, money's worth less, right? Right. So, just throwing it out here for you, a little bonus tip, you have to give yourself a 3% annual raise or you actually go backwards because your money loses value over time. So you have to give yourself a 3% raise. Everybody watching this, you have to give yourself a 3% raise every single year or you're going backwards, okay? So again, with $211,000 that he was able to get, and how do you get investors? Well, you get investors as a result of having a reputation. How do you develop a reputation? By working. How much should you be working? 60 to 80 hours a week. And if you work 60 to 80 hours a week, and every time the boss comes into work you're the first guy there and the last one out, over time you start to develop a reputation. And if you have a reputation, then people with a functional mind are willing to invest in you because they realize you're a hard worker. You don't invest in the business idea, you invest in diligent people. Every investor I've ever talked to, they go, "I don't even care about the idea. "What I care about is who am I investing in?" Wow. That's how it works. So if you wanna get an investor, you have go to be like Walt Disney and grind all the time. You have to be known as the person who is diligent. You sow seeds, you don't expect to reap a harvest without sowing seeds, that's what you do. So, sorry I'm pretty excited about that. I feel like you're preaching, this feels so good. Well I'm just saying, the Walt Disney story is a story that absolutely helped me. Because I was going through the toilet of life and I thought that my business was terrible and I thought that I was a moron because I had been building the business for like, 18 months and I had no money, and I couldn't afford air conditioning. But you know what? I looked at Walt Disney, I realized he went through it, too. Yeah. Back to you. It's amazing and to those of you that are watching, here's Walt Disney, he's a young guy, 16, drops out of school, goes to the army, comes back, meets up with Ub, they do a lot of things here, they start Laugh-O-Grams, and then, after working so hard, going through so much adversity, Clay, Laugh-O-Gram goes bankrupt. And then he moves to Hollywood, Walt Disney moves to Hollywood, and then he decides to become a director and ended up starting Disney Brothers Studio with brother Roy. Clay, tell us a little bit about that cause this guy's going through adversities left and right. Let's talk about bankruptcy for a second. What does it mean to be bankrupt? I'm gonna read you the definition, okay? It's a legal proceeding involving a person or business that is unable to pay their outstanding debts. The bankruptcy process begins with a petition, filed by the debtor or on behalf of the creditor. So just as we get an idea, the creditors are going, "Hey, you need to pay us." And you go, "I don't have the money to pay you." Therefore, you're bankrupt. That's how that works. That's bankruptcy. Bankruptcy laws were created so that if you find yourself in the toilet of a business, you can declare a bankruptcy, which will allow you to escape the debt that you owe. So I'd encourage you tonight, look up, just Google famous entrepreneurs who went bankrupt. And I will tell you, we'll add something to the screen here, Absolutely. There is a long list of very famous entrepreneurs who have lost everything. They went bankrupt. And you know what? Because you went bankrupt financially, it doesn't mean that you're gonna be an idiot or a failure or a sob story your whole life. You can, this is just real talk, show me somebody who's a genius, who doesn't have financial issues at some point in their business. If you're starting a business, you're going to have a financial stress. You're going to.

Featured Coaching Excerpt - Notes & Transcript, Part 3
  • Fun Factoid: Walt Disney also worked at the Kansas City Film Ad Company, where he made commercials based on cutout animation.
  • Fun Factoid: Bankruptcy stays on your credit report for 10 years after filing.
  • Editor's Note: In 1924, Walt hires animators, including Iwerks and decides to personally stop drawing so that he can focus on story development.
  • Ask Yourself: What are some things in my life that I need to trade off in order to scale higher?
  • Fun Factoid: Did you know that nearly 2.1 billion people have social media accounts?
  • Fun Factoid: Children aged 2-11 watch over 24 hours of TV per week, while adults aged 35-49 watch more than 33 hours, according to data from Nielsen that suggests TV time increases the older we get.
  • Notable Quotable: “People think 'focus' means saying yes to the thing you've got to focus on. But that's not what it means at all. It means saying no to the hundred other good ideas that there are. You have to pick carefully. I'm actually as proud of the things we haven't done as the things I have done. Innovation is saying no to 1,000 things.”
    -Steve Jobs
    (Steven Paul "Steve" Jobs was an American information technology entrepreneur and inventor. He was the co-founder, chairman, and chief executive officer of Apple Inc. Wikipedia)
  • Lesson Nugget: Don't let the "good" get in the way of the "great!"
  • Ask Yourself: What do I need to say "no" to that is good, in exchange for something great?
  • Bring it On!: Dodgeball!

(hip hop music) You're not an idiot because you are struggling financially. You just need to course correct a little bit. But technically, based off of the definition from Webster, the United States of America is actually bankrupt. Because we can't pay our debtors, we can't pay our debts, right? And other countries are like, "Hey, you need to pay us back," and we're like, "Yeah, let's just print more money." So technically the United States is also bankrupt so calm down, don't put yourself into that idiot zone because you went into bankruptcy. Also, if you're watching this and you are struggling, and you can't pay your bills, you might want to look into bankruptcy. That's one thing, I mean, that's one way to get out of that situation. I'm not endorsing you to quit, but I'm saying the laws were created to allow people, and many, many famous and successful businesses and entrepreneurs who've gone bankrupt. Now he goes bankrupt, he moves, he's like, "I gotta change, "I gotta get down there to Hollywood. "That's where the action is." So he goes to Hollywood to become a director and his brother, Roy, decides, "You know what? "I know you lost everything, but you're "a hard worker and I'm gonna invest in ya." So he and Roy start the company together. Back to you. What a good brother, Mr. Roy. And now we're talking about he's in Hollywood, it's 1924 and Walt Disney begins to hire animators, including (mumbles) again. Yep, bring him back up, bring it up, yep. And he decides to personally stop drawing so that he can focus on story development. So Walt Disney now not gonna draw, he's gonna focus on story development. What happened there? How hard would it be to have, get to a point when you are an artist, you love to draw, and when you realize the only way for you to make money is to not draw anymore. That's difficult, man. So it's a trade-off. So I remember when I was building my DJ company, I got to a point where I realized I cannot DJ every party anymore. I need to train other people to DJ. And it's so hard 'cause you're like, "I could do it better myself, I feel like "I love this, my passion," and if we're not willing to make trade-offs we can never, we cap our success. So the question I'd ask you right now is what are some things in your life that you need to begin trading off? Do you need to watch less TV to have more time to invest in your business? Do you need to begin delegating your accounting to somebody else so you can spend more time with your kids? Do you need to begin spending less time following your favorite football team so you can spend more time with your wife or your husband? Do you need to spend less time on social media? Probably not you. Less time on social media, less time watching TV. We'll go ahead and add to the screen here how much time the average person spends per week watching TV right now and on social media. And a lot of people say, "I don't have time, "where do you find the time to grow your companies?" Well, I tell you what I'm not doing. I'm not on social media reading your Facebook or going on Twitter. I use it as kind of an employee stalking program. I use it as a way to do my background check for potential employees. Seriously, that's why before we decided to bring you on, I looked for a long time and kind of followed you 'cause I can see your life and I'm going, "This guy's a good guy so therefore I'm gonna," you know, 'cause you can learn a lot about people on their social media, you know? So I'm just encouraging you, you're gonna have to ask yourself right now what trade-offs do we have to make? And to make this easier for you, I have a Notable Quotable that I have prepared, I've packaged it up here for you, from the late great Steve Jobs and this is what Steve Jobs says. He says, "People think focus means saying yes "to the thing you've got to focus on, "but that's not what it means at all. "It means saying no to the hundred other "good ideas that there are. "You have to pick carefully. "I'm actually as proud of the things we haven't done "as the things I have done." Wait, wait, wait a second, he's saying you have to say no to a hundred, what, good things in exchange for the great. You can't let the good get in the way of the great. You have to say no. You can't say yes to every idea that runs through your cranium. You have to say no to things to say yes to things. So I'm asking you right now, ask yourself, what do you need to start saying no to that's good in exchange for something great? Somebody watching right now is gonna have to turn down a pay raise to go to your boss and say, "Boss, I wanna "work at a different part of the company "because I can learn more. "I won't earn more, I'm actually gonna make "less money to move in this department." Somebody's watching this and he's like, "I really need to learn accounting," so you now have to say no to your favorite bowling, someone here is in a bowling league, someone listening is in a bowling league and you have to think, "Guys, I gotta "sit out this year 'cause I gotta go back "to school to learn accounting," or "I need to watch more Thrive 15 videos "and therefore I need to quit watching "my favorite Netflix series." You gotta have trade-offs. You gotta say no to good things to say yes to great things. Back to you, Jose. Man, you are rich with wisdom today. Well, I'm very surly, you know, I'm very surly. I was walking in today and Bruce challenged me to dodgeball. You know, he looks at me, he didn't really say it, but I could just feel it. He looked at me and I could hear him, like his inner dialogue going, "I bet you "I can beat you in a game of dodgeball." The way he said it, I was like-- It's on. It's on so Bruce, this one's for you.

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