“To be loved for one generation, remembered for two generations, and forgotten after that.”
“The best thing that ever happened to me is I hit rock bottom. By far the best thing that ever happened to me is hitting rock bottom.”
“Why can’t you be somebody that can do something in your business that’s never been done before? Why not you? Answer it.”
– Patrick Bet-David
Evan: He’s an american entrepreneur and financial advisor.
He speaks on a range of topics including leadership and how to become an entrepreneur.
He’s published two books, The 25 Laws of Doing the Impossible and The Next Perfect Storm.
He’s Patrick Bet-David, and here is my take on his top 10 rules for success.
Rule number 10 is my personal favorite, and make sure to stick around all the way to the end for a special bonus message.
And, as always, if Patrick says something that really, really resonates with you, please leave it in the comments below and put quotes around it so other people can be inspired as well. Enjoy.
Rule #1: Pursue Your Dreams
Man, what happened to Pops when he started a business?
What happened to Mom and Dad?
They got a divorce.
What happened to us?
We lived six different places.
Was it fun?
Hell no, it wasn’t fun.
What happened in high school to you?
Did you play baseball?
Did you play high school basketball?
Did you get picked up for football?
Did you date the girl you liked?
What was your GPA?
Who were you in high school?
Who were you afterwards?
What makes you think you’re going to make it in life?
You got to stop selling this stuff to this guy, man. Stop it, it’s getting old. Go get that job that you let go of, paying you 12 bucks an hour, and part-time get a degree. Stop taking these damn risks. We’re not meant to do something big with our lives, simple as that.
Are we done?
I’m done, I’m good.
“No matter what you ever do, you’ll have a lot of lonely times. You can lie to your family, you can lie to your friends, you can fool the world into realizing that why you didn’t win was because of some challenge that you had to face. But there’s one person you can never lie to, and that is the man in the mirror. You can never lie to the man in the mirror, never. For the rest of your life, the man in the mirror is going to look back at you and say, ‘You did not choose to go after your dreams.'” – Patrick Bet-David
Okay, good. Pat, I want you to know, this voice is never going away.
This voice is always going to be there. No matter how much money you’re going to make, it’s always going to be there. The great thing about it is, though, every morning you wake up, you have a choice on which voice to listen to.
But I want you to think about a completely different thing right now.
Let’s just say you do nothing.
Let’s just say you buy into your fears.
Let’s just say you buy into every single thing you’re worried about.
Let’s just say you don’t make any decisions to go after your dreams.
Fast forward 10 years from now, 20 years from now, 30 years from now, 40 years from now. Let’s just say your funeral’s around the corner.
You have 50 people there, 100 people there, maybe 200 people show up. These are your friends, family, and people that love you. So you’ll be loved for one generation, remembered for two generations, and forgotten after that.
“Face your fears and pursue your dreams. Go pursue the dreams that matter the most to you.” – Patrick Bet-David
Is that truly the life you want to live?
Is that really what you want to do?
I don’t know if that’s the life you really want to live. You see, what I’ve noticed is, no matter what you ever do, you’ll have a lot of lonely times. You can lie to your family, you can lie to your friends, you can fool the world into realizing that why you didn’t win was because of some challenge that you had to face. But there’s one person you can never lie to, and that is the man in the mirror. You can never lie to the man in the mirror, never. For the rest of your life, the man in the mirror is going to look back at you and say, “You did not choose to go after your dreams.”
And you have to be okay with that. Now, what I would like to encourage you to do is to make the right choice. I encourage you to face your fears and pursue your dreams. Go pursue the dreams that matter the most to you.
You only got one shot at this thing here, and if it works out, man, it’s going to feel so good for you. And if it doesn’t, at least you had the courage to make that decision. I hope you make the right choice. I trust you will.
Rule #2: Read People
Let me tell you one thing that, you know, most millionaires master is reading people. Reading people, and I’ll tell you what I mean by reading people, okay? The reason why reading people, millionaires end up generally become good at reading people is because they’ve been ripped off, back-stabbed, lied to, cheated so many times that there are a lot of signals that they see a trend of saying this person’s like that, reminds me of this person.
You got to learn how to read people, you got to learn how to read a customer, you got to learn how to read an employee, you got to learn how to read someone who is absolutely full of it. Sometimes I get surprised how some people who are pretty successful, they’re making $100, $200, $300,000 a year, how easily they fall for the trap of somebody who’s full of it. Like, how do you not read that sometimes, right? You got to learn how to read it, and a certain level of paranoia when you’re reading people.
And then also, when I’m saying reading people, it’s not just on a negative side. Reading people on someone that’s truly, you did something wrong and you need to go out there and do something about it. You need to read people that need you to make a right effort to take care of them.
“You got to learn how to read people, you got to learn how to read a customer, you got to learn how to read an employee, you got to learn how to read someone who is absolutely full of it.” – Patrick Bet-David
You don’t make the right effort to treat them in a way that they need to be treated. That’s also reading people. Another one is when I say reading people is being able to think what a customer is going to need now, and what a customer is going to need a year from now, three years from now, five years from now, and reading them.
Being able to read a person that starts with your company at an early stage, and what were they thinking about when they were at your level. At a new level, you’re not speaking to them from your level. Millionaires, they got to learn how to read somebody at that level and give them the belief that they need at that level, versus somebody that’s been around a little longer that needs to kind of man up, or woman up, or mature as an entrepreneur, and they’re not, they’re just treating this as a lolligagging with the industry, and that’s a completely different conversation with that person. Say, “Grow up already. “You’ve been in this thing for five, 10, 15 years, “what’s next? “You’re going to be like this your entire life?” So, reading to know when, where, who, what, when. They eventually become very good at reading people.
Rule #3: Leverage Your Time
I like shining shoes. I like ironing clothes. I like doing those types of things. And I remember one time, one of my mentors said, “Do you want to make $10 an hour?” I said no. “Then why do you keep doing $10 an hour jobs?” I said, “What do you mean?” He says, “You keep shining shoes, “you keep doing this, you keep liking those types of things, “you got to get somebody else to help you out.” So what happened? I went 100% dry cleaners, even when I couldn’t afford it. I was broke.
“You got to get an assistant so you can leverage your time. Do not let $10 an hour job get you out of business, where you end up going back and getting a job that pays you only $10 an hour. Focus on what grows your business.” – Patrick Bet-David
I went 100% dry cleaners. I went 100% somebody else helping my shine my shoes, and I gave money to a business. I got an assistant to do my paperwork for me, to do the filing for me, to do all of those things for me, to drop my car off at Jiffy Lube to get an oil change, to get a car wash. Literally all of those activities were done by somebody else, and it became a match-up system to me.
I had somebody do those things for me, were allowing me to do the other things, even housecleaning, it was somebody else doing it where it’s not me doing it. Now, why is that important to do? You got to get an assistant so you can leverage your time. Do not let $10 an hour job get you out of business, where you end up going back and getting a job that pays you only $10 an hour. Focus on what grows your business.
Rule #4: Don’t Change Yourself
I got a call from one of my friends from many, many, many years ago, growing up and he said, you know, he’s been trying to get into a relationship, and he says, “Pat,” he’s an entrepreneur, he says, “Pat, I’m dating this girl, “and I’m at a point right now “where I feel like I need to settle down.
“I’m in my mid-30s.” I said, “Okay.” He says, “But she told me this.” I said, “What’d she tell you?” She says, “It’s either me or the business, “because she can’t stand the fact “that I’m working the way that I am “and I’m running a business.”
And I said, “What’s your answer?” He says, “Well, I don’t know. “What do you think I should do?” I said, “Well, I’m not going to give you my advice.” I said, “What’s, how are you wired yourself?” He says, “Pat, I don’t think I can really do this.” I said, “Why do you think?” He says, “Because you’re asking me to change myself.”
You see, when somebody says, “It’s either me or the business,” let me explain to you how an entrepreneur sees that, so maybe it’ll help understand. The entrepreneur says, “It’s either your arm or me, “what’s more important?” I love you, but I’m not going to cut my arm off. You’re telling me to be a whole different human being to be with you. We’re not living in Biblical times. I’m not going to cut my arm off for you. If you want me, this is me. This is how I come.
Do you like it? You don’t like it, go find somebody else. But this is how I’m wired. I’ve been like this for 22 years. I’ve been like this for 38 years. It doesn’t mean I’m not going to change and improve myself with maturity. I am, but I’m an entrepreneur. I’m in the hunt, I’m going after it. I’m going to build something special and significant for my life, and I want to build it with you, but not if you’re trying to change me.
So, on the other side, somebody may say, “Well, they spend more time with the business. “They love the business more than they love me.” No, it’s how they are. It’s how they are, it’s how they’re wired. If somebody says, “Babe, I’m pregnant, “what do you want me to do?” When you’re pregnant, you go through this.
True To Themselves
“If somebody’s really trying to change somebody, and you’re an entrepreneur, if the person does change, it’s just a matter of time ’til the person goes back to being true to who they are. You’re going to be true back to who you are. The entrepreneur, the real entrepreneur, is going to go back being true to themselves.” – Patrick Bet-David
A man may feel like, “But what’s more important to you, “the baby or me?” What are you talking about? This is something that we don’t understand when a first pregnancy. We’re on our third one now, so now I get an understanding of it. It’s like, “Who’s more important, me or the baby? “I’m your husband.” That’s an ultimatum.
You don’t put a mother in a position like that. You don’t put an entrepreneur in a position to say it’s the business or me. They’ll typically take them as who they are for a human being. ‘Cause the last thing you want is to date somebody, and then 10, 20 years later they have resentment. Then it can lead to worse things. You had somebody that decided to change their own DNA to be with you, all because of you.
You have a delayed time bomb of someone that could eventually become your biggest enemy in your life, because you tried to change them. I don’t recommend that. One of the best recommendations I got before I got married, I was dating a girl at one point, and I went to one of my mentors, one of my pastors, and I said, “Hey, this is what I’m experiencing, “what do you think?” He said, “Does it bother you?” I said, “A lot.” He said, “Can you deal without it?” I said, “No, I cannot, I can’t deal with this.” And he said, “It’s just going to get more, “so if you can’t deal with it now, “don’t think it’s going to disappear.”
And I have to make that decision and move on. It wasn’t easy, it was very difficult because, you know, I really cared for this human being, but I have to move on. So, if somebody’s really trying to change somebody, and you’re an entrepreneur, if the person does change, it’s just a matter of time ’til the person goes back to being true to who they are. You’re going to be true back to who you are. The entrepreneur, the real entrepreneur, is going to go back being true to themselves.
Rule #5: Have The Right Attitude
I was a young kid, just a knucklehead who thought he knew everything. You know, 21 years old, I would’ve been so annoyed coaching myself at that time, ’cause I thought I knew everything. And then the best thing that ever happened to me, the best thing that ever happened to me is I hit rock bottom.
By far the best thing that ever happened to me is hitting rock bottom. I think, for men, I have two boys, and I’m going to be in pain when I witness these guys go through this, but I think the best thing that can happen to a man is a heartbreak, a very strong heartbreak, and a very big failure early on in business.
And it happened to me early on in life, both heartbreak and business. It happened early on because I thought I knew it all, and it was a slap in the face to say, if Socrates says, “The only thing I know “is that I know nothing.” If the greatest minds, on their deathbed, are saying things like that, what makes you and I think we know everything?
“We got to learn how to adjust, we got to learn how to adapt, we got to learn how to get better, we got to learn how to improve, and so the mindset of thinking you know it all, it’s just not a place you want to be, ’cause it means advancement doesn’t come around the corner, and I had the know-it-all attitude at a young age, and it almost cost me.” – Patrick Bet-David
Quite frankly, everything I’m saying on Valuetainment may be inaccurate. Every single thing I’m saying on Valuetainment, you may come back and my opinions may be wrong. It’s worked for me. This is how it’s worked for me. For me, it’s more about teaching how to think than actually what to think.
I want to get an entrepreneur to learn how to think than what to think. But we don’t know everything. We got to learn how to adjust, we got to learn how to adapt, we got to learn how to get better, we got to learn how to improve, and so the mindset of thinking you know it all, it’s just not a place you want to be, ’cause it means advancement doesn’t come around the corner, and I had the know-it-all attitude at a young age, and it almost cost me.
There’s a benefit to that. There’s a benefit because you become edgy, you push the envelope a little bit, but there’s also the leveling off to know that maybe you don’t really know this, so let me ask and question somebody I respect to give me proper direction that I trust that maybe they can challenge my position and opinion, but it’s good that I have the audacity, so I like it.
The fact that there’s audacity, that you’re pushing the envelope, but there’s got to be coachability and learnability that you want to learn and advance as well. It doesn’t matter who you are, everyone’s got to have somebody that they have a mentor that’s giving them direction with. So it was good that I got out of that pretty quickly.
Rule #6: Retain Energy & Stamina
Energy and stamina. It requires energy and stamina to retain information. So, if your body is gaining too much weight, and you’re tired, your body doesn’t have the energy and the stamina to retain that information. To retain information requires your body to have the energy to retain it. If it doesn’t have it, it’s not going to retain it. Come on, Pat, you’re telling me my weight has to do with retaining information?
Yes it does, yes it does. ‘Cause retaining information requires an effort, and any time you need to take an effort to do anything, it’s going to deplete what? Energy. And if you don’t have the energy in your mind, it just says I don’t have any interest to want to retain this information ’cause I’m tired, and I don’t have stamina, and my energy’s low.
“It requires energy and stamina to retain information. So, if your body is gaining too much weight, and you’re tired, your body doesn’t have the energy and the stamina to retain that information.” – Patrick Bet-David
That’s why energy’s a very, very important gain, and it’s not just about money. Energy is not just about looks, and looking pretty, and exercising ’cause I want to look good. Exercise when we’re younger was for a whole different purpose. When you’re married with kids and later on you’re an adult, you’re exercising for a whole different reason. Focus, energy, and stamina. Sharper mind.
Rule #7: Learn How To Sell Yourself
Selling is something you’ll always do the rest of your life. Most people don’t like selling. Some people like to kind of make it nicer, and some will use a better word and say communication or this. It’s sales.
By the way, those that just turned off the video and don’t want to watch about what selling has to do, hey, you want to marry that girl you love? You know which one I’m talking about? You need to sell her, and her parents, and her best friends. That’s all selling. You want to get that promotion? Purely selling, baby. And those who get that promotion sell better than you do.
That’s the way it is. They don’t sell a car. Their job could be human resources or something, but they learn how to sell themselves as that position more than you. Maybe you ought to learn how to do it. It’ll benefit you, make you a lot of money.
Rule #8: Copy Genius
Picasso once said, “Good artists copy, “great artists steal.” This is one of Steve Jobs’s favorite quotes. And Steve Jobs once said, “We have always been shameless “about stealing great ideas.” So wait a minute, is it a good or a bad thing to steal great ideas, and being a great copycat? ‘Cause I hear some people say sometimes, “You know that guy copied my idea? “That was my idea, I came up with this.” Listen, worry when nobody’s copying what you’re doing, because no one’s paying attention to you. It is a very, very, very big compliment when somebody copies you.
Rule #9: Why Not You?
Ask the question when you’re thinking big, why not you? And answer it. I’m not just doing this motivational video. Why not you? Why shouldn’t you win? No, no, no, forget motivational, let’s get logical.
Why not you? Actually answer that. Why can’t you be somebody that can do something in your business that’s never been done before? Why not you? Answer it. So give the argument. Logically, here’s why not me. Because I don’t work hard enough. You can fix that. Stop being lazy.
Well, whatever, but because I’m not that good in sales. You can learn sales. So, okay, because I don’t know much about the product. You can learn the product. But why not you? Because no one in my family’s been rich. So what? No one was rich in Zuckerburg’s family before he became who he is today, and nobody was in Jobs’s. Jobs’s mom even gave him up for adoption. So, whatever, but, so why not you? Make the argument.
Why not you? Truly get into it. Then, give the other argument. Why aren’t you actually doing this? Why shouldn’t you be the person? And say, I’m a very smart person. I love people. I actually like to make money, to make a difference in the world.
“Why can’t you be somebody that can do something in your business that’s never been done before? Why not you? Answer it. So give the argument. Logically, here’s why not me. Because I don’t work hard enough. You can fix that. Stop being lazy.” – Patrick Bet-David
And you know what? I care for people, and I have some things I want to do. If I get money in my pocket, it’ll be good, I’ll do good with it. And I got a big heart, and I am talented, and da da da da da, and I know the right people.
Boom, that’s why not you. Make both cases, as if you’re an attorney representing yourself. One, why not you, meaning you shouldn’t be the person, and the other, why not you, meaning you should be the person. Sell both of them, and then see which argument wins.
Something tells me the argument on this side’s going to win. But make that argument. Take a sheet of paper and make that argument. Why not you? Question that a little bit. Who convinced you you can’t do it? Who convinced you you can’t be part of a group of people?
I watch so many guys on YouTube that, you know, are, even some of these guys are considered experts by big magazines and have written New York Times bestsellers, and they say some shit like, “Oh, you know, “entrepreneurs are born.” Give me a damn break!
Entrepreneurship can be taught. Entrepreneurship is an inspiration that comes from here from some people that want to solve a bigger problem. What do you mean entrepreneurship is something you’re born with? I completely disagree with that statement. Fully disagree with that statement. Jumping 48 inches? That’s God-given ability. You can’t do that. Entrepreneurship, it is a formula.
If you hang around other people that think like this, and you watch this video, and you watch all of Valuetainment or some other people that are feeding the right type of content to you, and the right books you read, your imagination won’t stop working, because the entrepreneur is numbers, solving problems, how can I do it better, faster.
Why can’t you learn the skillsets? Why can’t you? You can, so why not you? And don’t let anybody convince you that people who solve some big problems and are big thinkers have to be born being big thinkers.
I’m here to tell you you can figure out the formula to thinking bigger. Don’t let them convince you that these elite people. Sometimes I sit around my friends, who are worth money as well. I’m around these guys all the time, so now, you know, “Hey, Pat, “come run the meeting, “we’re going to go have some party with these billionaires, “are we’re going to go hang out? “Okay, great, I’m going to go with these guys, eh. “You know, I was always special because for–” Oh my gosh, stop it already. When you almost lost everything you did not think you were special. None of us do, and then we, you know, have our break and we win. And you can do it as well.
Rule #10: Show Up Everyday!
Most people only pay attention to the final product of a successful entrepreneur. They say things like, “I can never be like them.” or “They got lucky.” What most don’t see is what they’ve overcome. All the struggles, the daily rejections, the heartaches, the betrayals, the rumors, the criticism, the empty bank account and all those lonely nights while trying to make their vision a reality.
You see, the only difference between the one who quits and the one who doesn’t is that they showed up every day. They worked hard every day. They hustled every day. They learned from a proven mentor every day. They improved every day. They did all this even though they felt like quitting every day. And eventually, they became who they are today. Hey thank you so much for watching this video, here.
“Most people only pay attention to the final product of a successful entrepreneur. …..What most don’t see is what they’ve overcome. All the struggles, the daily rejections, the heartaches, the betrayals, the rumors, the criticism, the empty bank account and all those lonely nights while trying to make their vision a reality.” – Patrick Bet-David
I also want to give a shout out to Evan Carmichael who I really believe the world needs more Evan Carmichaels who figure out ways on a daily basis to inspire millions of people around the world to go out there and not give up and pursue their dreams because I firmly believe one hundred percent of all of world’s problems are going to be solved by entrepreneurs and anybody who is inspiring and giving birth to other entrepreneurs. I’m supportive of that person and that’s exactly what Evan Carmichael does with this channel.
Evan: Thank you guys so much for watching. I hope you enjoyed. I made this video because Isaac Mercado asked me to, so if there’s a famous entrepreneur that you want me to profile next, leave it down in the comments below and I’ll see what I can do.
I’d also love to know what did Patrick say that really inspired you?
What was the most relevant, most important message that you took from watching this video?
Leave it down in the comments. I’m going to join in the discussion. I also want to give a quick shout out to Rebecca Love. Rebecca thank you so, so, so much for picking up a copy of my book. It really, really means a lot to me.
So, thank you guys again for watching. I believe in you. I hope you continue to believe in yourself and whatever your one word is. Much love, I’ll see ya soon.
Thanks so much for reading Patrick Bet-David’s Top 10 Rules For Success 🙂
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