How The World’s RICHEST Man Made His Money | Spotify Video Exclusive
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How did Bernard Arnault become the richest man in the world?
People are making podcasts and thinking in 90 days they're somehow going to blow up. In the beginning, 150 episodes, it's just me talking about how to run a gym better. I got a DM the other day, somebody who was like, yeah, it's easy for you to build this brand because you already have this big audience. I was like, dude, just start. He was discouraged by the fact that he had no following, he had no audience, etc. 99% of people who are watching this do more cool shit and then you'll have cool shit to talk about rather than regurgitating other people's stuff. But For everyone who sees the overnight success, right? What I want you to do is go to my podcast and look at the timestamp of my first episode.
It's 2017.
What psychological differences exist between the rich and the poor?
Five and a half, six years ago, it just now hit the top 10. And in that six year period, I did not miss. Every week, One to three podcasts for six years. And so people are making podcasts and thinking in 90 days, they're somehow going to blow up. When the reality is that you're finding your voice for the first year. You're figuring out what way you communicate. You're learning how to teach, how to entertain, how to present. You're learning how to speak. And you're also learning about the stuff that you're learning meantime, right? Like in that period of time, I might not have had as much stuff that was as cool in the beginning that applied to as many people. Because the first 150 episodes is just me talking about how to run a gym better.
Right around 150, I started talking about marketing in general, because that's what I was into at the time. And then I started talking about sales and I started talking about business in general and M&A and things as they've evolved over time. And so the subject matter, as well as my skill in delivering it, both improved over that period of time. And now the podcast is top 10 on entrepreneurship and very high ranked in business. Next to names that I looked up to my whole career. I'm like, holy cow. I'm like, wait, we just went above this guy that I've been looking up to my whole life. It doesn't take 90 days.
How can studying luxury brands enhance business strategies?
It takes years. If you think in days, the time's gonna pass no matter what. But if you can think in decades, when you make your goals, when that decade does pass, it'll show that you were thinking that way. right? Not the outcome of the goal, make the action of the goal. If the action is, did I make the post? Did I make the reach outs every day? Then you're a success. You check both boxes. I want to tell you a quick story. So there was a guy who started at the first gym with me same day. All right. And we've been friends since then. And I started my gym and then he started his gym and he started chain of gyms. So we went in parallel. All right. And he ended up selling those gyms and he wanted to go online.
He was like, dude, I need to build like a brand. And I was like, dude, you just need to start posting, you know, short form stuff, making stuff that's valuable. He posted every day for six months and then one video took off and then the next video took off and the next video took off and then all of a sudden now he's making $100,000 a month from the content that he was making.
What role does convenience play in appealing to wealthy customers?
He'd already been doing business for nine years. And then all of a sudden it took off and he messaged me. He was like, I'm super grateful that you told me to do that. And so he did the post and he did the reach outs. And what ended up happening is that earlier on, he would have videos that would start taking off. He would start doing reach outs. He started making sales and then he'd make some money and then he would slow down. And then all of a sudden you get in scarcity mode once he was like, oh shoot, there's no money coming in. There's no money coming in. And then you start making content, start doing reach outs again and you make money again. And he was like, dude, how do I break the cycle? And what we did was we shifted what he was focusing on because he was focusing on the sales he was making, he was focusing on the money he was making rather than focusing on the process.
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Chapters
8 chapters
1
How did Bernard Arnault become the richest man in the world?
0:00–0:35
2
What psychological differences exist between the rich and the poor?
0:35–1:40
3
How can studying luxury brands enhance business strategies?
1:40–2:38
4
What role does convenience play in appealing to wealthy customers?
2:38–3:44
5
Why do higher prices lead to better customer experiences?
3:44–4:45
6
How can businesses create products that specifically serve rich people?
4:45–6:42
7
What are the benefits of attracting higher quality customers?
6:42–7:44
8
How can businesses increase their perceived value through pricing strategies?
7:44–15:21