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A common trait I see among successful people is extreme focus on a single goal.

Successful people know what they want. They aren’t splitting focus, they’re going all in on getting to where they want to be. They have one goal in front of them and all of their energy is going into doing the work.

I don’t like to plan for failure. I’d rather put all of my energy into going forward than slow down and create a backup plan. If I encounter a problem, I’ll just face it head on.

Even if I fail, what I’m still left with is two hands and a willingness to work hard.

Matt has a different approach. He presents a case for making backup plans in this episode—and even backup up plans for your backup plans.

I think there’s room for both approaches. I also think you’re going to really enjoy this conversation on whether it’s profitable to spend time, energy, and resources preparing for things that might go wrong.

Highlights, Takeaways, Quick Wins
  • You don’t need a backup plan if you have two hands and a willingness to work hard.
  • The more backup plans you have, the more time it takes to prepare them, which is less time, focus, and energy getting where you want to go.
  • If something bad happens to your business, figure out a way to respond to the situation and still remain true to your values.
  • Always build an asset for the long-term because that can be your backup plan.
  • Tie your long-term plan to your backup plan so you aren’t constantly having to change your backup plan as your business changes.
  • In a job or in entrepreneurship, you’ll be more successful if you aren’t spending all of your time thinking about what could go wrong.
  • Normalize what feels big to you if you want to be able to achieve it.
Show Notes
  • 01:06 Sean: Matt, do you have a backup plan?
  • 01:08 Matt: Of course, but I have a backup and then a backup-backup plan. I’ve lost everything twice already in my life. After you’ve done that, you realize you need a backup and a backup-backup plan.
  • 01:27 Sean: We’re not talking about software backups on your computer. You mean like if you fail in your business, you have a backup plan—a plan B.
  • 01:38 Matt: A plan B and a plan C. What if B failed? Usually your backup plans fail and I expect that. Especially in what I do, I know things are going to go wrong. When you brought up this topic, I asked myself, what would I do if I didn’t have a backup plan? I really liked the saying you said.

You don’t need a backup plan if you have two hands and a willingness to work hard.

  • 02:08 Sean: Where I’m coming from with that is that successful people know what they want. They have a single goal. They have drive. They have clarity. They have a singular focus on one particular goal—nothing else. They know what they’re going after. They have clarity and they have focus. To me, I want every ounce of energy to go toward achieving that goal.
  • 03:18 To me, it’s like, “If something fails, what do I have left?” When I’ve talked to Laci about the situation with money, it can be kind of scary. I’ve shared real numbers and we’ve gotten to a point where we only had a month of payroll in the bank and we have to figure it out. I shared that and she’s like, “Oh no!” but I know the big picture plan.
  • 04:00 I just came back from a mastermind retreat in San Diego with the same group of guys I went with last year to Boise back in September (Related: e209 Unsolicited Advice – Recap of A Mastermind Retreat). It was really, really good and I would like to do a full recap of this retreat, but I haven’t yet. I haven’t even had a chance to talk to my team about it because a lot of people have been traveling.
  • 04:54 One of the takeaways from this trip was when they said, “Sean, you need to stop worrying about monthly revenue. You need to think in terms of annual.” I was saying things like, “Our monthly recurring revenue is $12,000 or $15,000 and we have expenses of $30,000 a month, so it’s really bad.” We made nearly half a million last year and if you do the math, the expenses are only $360,000, so we still made money in the year. When you look at the average of the money that comes in automatically, without spikes, it gets stressful.
  • 05:35 They said, “You don’t need to worry about that. Are you building a subscription business, or a SAS business?” Well, no. They said, “Then you have a different business model. You need to look at the whole year and figure out what the average is. It sounds like you’re doing alright there.” That really did help. I was thinking about it in those terms. I do see the big picture, that’s why we’re still here. Overall, we averaged more than our expenses, but on a month-to-month basis, there were times where it didn’t look good and I let myself get stressed about that unnecessarily.
  • 06:20 Matt: Well, it’s hard when you have other people around you that are looking at the dollar amounts, but at the same time, they don’t know everything that’s going on and what’s coming like you do.

Building Long-Term Assets

  • 06:32 Sean: I see the big picture, but Laci knows what our payroll is and the money that’s coming in, and when you look at the short-term, it’s kind of scary. I know it’s all going to work out and we’ve had the conversation before, and now she’s on board, but at the time it seemed like things could happen at any moment and it could be bad. It seemed like we could lose the business and we’d have to bleed our personal savings account until it was dry. In her mind it was like if we lose the business, we’re done. That’s it. It’s over. Laci goes back to working at a coffee shop. I said no and that I wanted to paint a picture for her to understand what the real worst-case scenario is.
  • 07:31 I said, “We have a really high payroll every month because I’m investing long-term. All of the things the people on the team are doing are long-term type things. We would still make about 75% of what we already make if everyone on the team was fired. That’s the business I have. You have to remember I have a lot of assets. If the business failed, we ran out of money, and everyone had to be let go—that’s the worst-case—then we still have the name, the infrastructure, the course, the archive of podcasts, an audience of 100,000 people, and everything I’ve learned! We would make 75% of what we already make if we fired everyone and sat on our butts for a year.” That’s pretty great. I told her I could start consulting, promoting the things we already have, and make new courses.
  • 09:01 Matt: It would take a little extra work but you could do it. We’re always talking about short-term and long-term. I like that you’ve done a lot of long-term. When we say long-term, it usually means you’re building assets; it’s not something you’re going to make any money at now. The thing about assets is it doesn’t necessarily give you a pay date now. In my backup plan, if I lost everything today and I had to let go of all my guys, I still have my assets—homes, equipment, trucks, and my clients. I could sell all of that, get money, and start over.

If you’re building a business, always build an asset for the long-term because that can be your backup plan.

  • 10:23 Hopefully you’ll never have to use it like that, but as you’re building it, work on those assets.
  • 10:40 Sean: What I was just describing might sounds like a backup plan to some people, but it’s actually not my backup plan. Maybe it’s just semantics, but that’s more of my worst-case scenario or a fall-back. I’m not actually planning that. I don’t have a plan, I’m just saying we have a lot of assets and I have two hands and a willingness to work hard. The way I like to approach things is to set my sights on a goal, have clear focus, and go all out on achieving that goal. I’m going to do everything to the best of my abilities and I’m going to use all of my energy to go after that one thing.
  • 11:32 I’m not worrying about if I fail because if I fail, what am I left with? Even in the worst-case scenario, I have two hands and a willingness to work hard. You can’t lose with that. I’d rather have all my energy focusing forward than 10% of my energy looking in the review mirror. It’s like going on a road trip: you have a certain amount of time to plan the trip before you get in the car. The more you plan the road trip, the later you leave for your trip, which means the later you get to your destination, and the shorter amount of time you have to spend at that destination.
  • 12:17 You’re planning out your journey and you say, “What if I-10 is closed? I guess we’d need to go around this detour,” and you plan an alternate path. You can play the what-if game forever. What if this road is flooded? What if a tornado comes through at this exact moment? You have plan B, plan C, plan D, and plan E.

The more backup plans you have, the more time it takes to prepare them, which is less time, focus, and energy getting where you want to go.

  • 12:54 Guess what? If I-10 is blocked off at a place I need to keep going straight, I’ll figure it out there because I have a good head on my shoulders, a car with gas in the tank, and I’m going to find an alternate route on the map. I’m going to do what I can with what I have. That’s where I’m coming at it from, I’m not saying there’s anything wrong with backup plans. Matt and I were driving back from Austin after SXSW and this topic came up. I realized the one thing I recognize successful people have is extreme clarity.
  • 13:46 It’s like an F1.2 camera lens—a very shallow depth of field. It’s like one thing is in focus. If I was holding a quarter, it would be in perfect focus and everything in front of or behind it would be blurry. They aren’t concerned about anything else. Nothing else is what they’re focused on. They don’t want a penny or a nickel. The quarter is what they want. The common trait I see in successful people and it’s what I want—they know what they want, they know what they’re going after, they know what the path is and they just have to do the work.

Operating From Your Values

  • 14:35 Matt: I’ve noticed a lot of successful people aren’t afraid to fail. Most of them, if they’re already big, have already failed multiple times in their lifetime so they’re not worried about having to start all over. They just keep on going, they’re hyper-focused on where their goal is, and they just keep working to get there. A lot of smaller people are concerned about the day-to-day things.
  • 15:07 We’re humans, we’re emotional, so we’re going to get afraid if we only have a month left of run way. I see what you’re saying and I like that, but at the same time, what would you do if you didn’t think like that? What if you were afraid about having just one month of runway? Would you still look ahead? Would you still be focused on doing what you do best instead of worrying?
  • 15:46 Sean: I think it’s similar to my No-Debt Mentality. Whenever I talk about how I don’t go into debt and that’s just a decision I’ve made, people ask, “What if this or that happens? What if you get in a car wreck and you have this huge hospital bill?” and they come up with these extreme scenarios. They’re looking for exceptions—that’s the what-if game. I don’t like to play the what-if game. Things happen. I don’t want to plan for extreme situations and say, “I guess that’s where I would compromise on my values or what’s important to me.” I face it head on.

If something bad happens to your business, figure out a way to respond to the situation and still remain true to your values.

  • 17:15 Nathan Barry was on this retreat. He’s the creator of ConvertKit, email marketing for professional bloggers. He has a very fast growing company. As of now, they’re doing six figures a month with a million dollar annual recurring revenue and by next year they’re looking to double that. It’s awesome, but in the beginning, with growth, their expenses were growing linearly—if they were making $50,000 a month, their expenses were $52,000. The margins weren’t very big and it was scary for him. He was getting worried so he went to his bank for a line of credit.
  • 18:19 His bank was always asking him if he wanted to open up a line of $100,000, but because he didn’t do it a long time ago when he had a bunch of money in the bank, now they looked at his bank and said, “Sorry pal.” His advice in a blog post was that he wished he had opened a line of credit when he didn’t need it because he could have it when times were bad. I get where that’s coming from and I get how for a lot of people, the logic of dept makes sense because you can take this money, invest it, and turn it into more money. Because of my values, I don’t like to owe people money. I don’t want to go into debt so I don’t see it as an option. Even in a situation where I have one month of runway in the bank, I don’t want to go into debt. If the company is done, the company is done.
  • 19:22 It’s like, “We have $0, I guess we should take out a loan.” That’s just not how I play the game. Entrepreneurship honestly isn’t that big of a risk compared to working for some one else’s company. Your entirely livelihood is in their hands and it doesn’t matter if you have two hands and a willingness to work in someone else’s company. They can fire you! You can be the hardest working guy, you can be making them the most money, you can have the highest sales commission, and they can say, “The company is done. It’s been a fun run, but you’re out of here.” When you’re working for yourself, those two hands and a willingness to work hard can be leveraged.
  • 20:10 Matt: You control your own fate. I was just talking to a lady at Starbucks on my way over here. She was from California and she was just telling me that her husband was about to lose his job. They left California and they were making really good money. She said, “Texas isn’t what everyone made it out to be,” so I asked what he did and she said he works for a company. I said she didn’t have to tell me the company name, but that’s the problem—he works for a company. If he owned his own business in Texas, the growth here is incredible. That’s how you become successful in Texas—you have to open your own thing. That’s going to be hard in the beginning, but you’ll be successful in the long run.
  • 20:58 You don’t come to Texas to work for a company and expect to grow exponentially. I told her this because I used to work for a company and I make so much more than what I was making there after going to school and getting a degree. I did all the things a person is supposed to do. We all know entrepreneurship is just something you do. It’s more accepted in our generation. To go back to the no debt thing real quick: I believe debt can be used as a tool. I think of my businesses as playing Monopoly or Roller Coaster Tycoon and when you’re playing games like that, you have the option to use different tools to grow. In my mind I think of debt as a golden hammer—it can be used in the correct way or you can use it to destroy yourself.
  • 22:21 We have loans and credit lines and we borrow money from people to invest, but it’s a risk. It’s something where the worst-case scenario is we have to pay them back even if we don’t have the money to pay them back. In the beginning we didn’t have that money and it was scary, but in general, anything can be used for bad, like watching Netflix too much. If you focus on the goal in hand, no matter what is going on, you’ll figure out the correct things you need to do—not gamble, not risk. You’ll get to that goal and you’ll figure out what you need to do to get there.
  • 23:46 Sean: With gambling, there’s different tables that have different odds and I feel like entrepreneurship has pretty darn good odds compared to working for another company. There are great companies that have a very low chance that you’ll get fired, but there’s always a chance. Some people will take the gamble of business and they’ll put their own money in. If they play their cards right, they could make more money back, but when you run out of money, you have two options: you could say, “I don’t have any money, I can’t play anymore,” or, “I can borrow money I don’t have so I can keep playing the game.” That’s just not how I choose to play the game.
  • 24:48 I’m going to go up to the front desk and say, “Are you hiring? Do you have any floors that need to be mopped? Can I help bus some tables?” I’m going to earn some money.
  • 25:06 Matt: People who are trying to get into business and who see us and think, “I want a seanwes,” and then go get a loan to buy a bunch of stuff, just aren’t ready. They don’t have the audience. They didn’t do the build-up. Those people fail so quickly and then ask what they did wrong.
  • 25:35 Sean: Bootstrapping gives you tenacity.
  • 25:39 Matt: Business is a gamble, but if you play your cards right, your odds are pretty good.

In a job or in entrepreneurship, you’ll be more successful if you aren’t spending time thinking about what could go wrong.

  • 25:45 Sean: People are risk-averse. I get why people want to have a backup plan, but you’ve got one foot out the door vs. “I’m all in at this company. I want this company to be successful because I know if this company is successful, I’ll be successful.” This person is going to show up and work hard. They don’t have one foot out the door. If you’re in a job you hate, I understand you need to leave, but if this is where you want to be, go all in on that.
  • 26:37 Just like if you’re in business, go all in on it. I don’t see much merit in spending a bunch of time planning what I’m going to do if things go wrong. I’m the ant going in a line. I know where I’m going and I know how to get back to the ant mound. I remember the path and this time, there’s a rock in the path. I come to the rock and I say, “There’s a rock here. I still know where I’m going, so I’m going to figure it out. I’ll go right around the rock.” If there’s another rock that direction, I’ll turn around and go left around the other side of the rock, and I’m back on the path again. What if I spent an hour of my ant life coming up with all the obstacles that could be in the way on my path? I feel like that’s wasting time. I would rather face the problem head on and deal with it.
  • 28:02 Matt: The reason I took the time to put together my backup plan is because I think of my employees as my kids. I always want to make sure they’re taking care of. I see them work so hard and I have a lot of respect for them. They’re all older than me and they could go do their own thing, but they like the way I treat them. I say, “What would you guys do if the housing market went down?” They said they would come to me and ask me what to do. Out of respect for my employees, I’m going to take time out of my day to make a backup plan. I wouldn’t be where I am without their help, so I appreciate what they’re doing. I take the time out of respect to have things in place if a worst-case scenario happened. I’ve taken the time to research what other companies did during the recession.
  • 29:50 Everyone knows who Hershey is—they’re recession proof! I’ve tried to build my company the same way to where even if we’re in a recession, we’re still making millions. It takes some time and some thought, but if we’re ever in a recession, we’re still going to have plenty of homes for people to come into. You have to decide if you want to be that guy. I get it, you want to be moving forward, but this is why we have employees.

What a Backup Plan Looks Like

  • 30:24 Sean: What does a backup plan look like? How do you split the time between planning where you want to go and how much to prepare if things go wrong?
  • 30:42 Matt: We have so many different businesses and we continue to add a lot of services. The more we add, the more assets we build. If there was a recession tomorrow, we’ve built so many assets now, especially recession-proof onces, where we would still make money—the buildings and properties we own, and even restaurants now. We’ve put together a plan on things that wouldn’t be considered recession-proof. We would sell those assets and put that money into our recession-proof businesses. We would essentially not miss a beat, even though we might lose a few businesses.
  • 31:35 My dad did a good job telling us, “Look at history and what the demand is. What is it people have to have? Build a business around that. When you do that, people will always be there with their wallets open.” We have businesses now in pretty much every single demand. That’s the backup. I’ve chosen to be the place people can come where there’s always resources.
  • 32:12 Sean: If you had to give a percentage breakdown, how much time do you spend going forward vs. preparing a backup plan if things don’t work out?
  • 32:23 Matt: The backup plan is already in place and every day that we move forward and build assets, we’re reinforcing the backup plan to make it stronger.
  • 32:34 Sean: As you grow, wouldn’t you say your business changes? As it changes, wouldn’t the backup plan have to change, which means it requires maintenance, which takes time?
  • 32:43 Matt: Not necessarily because the backup plan is based upon assets and every day, even when I don’t work, we’ll get paid more and that money will go toward the assets, which is the backup plan. It’s not about worrying about the backup plan. I’m learning so much and I just can’t wait for our Expansion Framework course. A lot of the things I’m learning, I just want to give away because they’re crucial, foundation things people don’t think about. I question myself even, why didn’t we think of this sooner? How come we didn’t have this backup plan when I lost everything in the first recession?
  • 33:39 We weren’t thinking about assets then, we were only thinking about making money in the short-term. We were all about making money now and having nice things now. Now, we’re hustling so we don’t have time to put into the backup plan, but we have to think long-term. How do we make it to where our long-term plan helps us in case of a recession?

Tie your long-term plan to your backup plan so you aren’t constantly having to change your backup plan as your business changes.

  • 34:28 We keep on moving forward and keep on building a bullet proof wall behind us in case we fall. That’s the way we plan things.
  • 34:39 Sean: I honestly think there’s room for both approaches. I’m kind of full speed ahead and if I encounter a problem, I’ll deal with it. That’s just how I choose to set my throttle.
  • 34:56 Matt: Think about it this way: let’s say you were a merchant back in the day selling paintings on your one boat. As you sell more paintings and you become famous—all the kings and queens have to have your art—you’re going to use that money to buy more boats because you need to send more art out so you can get more money. In the short-term you’re making money because you’re selling the art, but in the long-term, you’re gaining more employees, boats, assets, more customers, and an audience. You’re constantly building, you’re not worried about a backup plan. As you’re building the business, you’re building a bullet proof backup plan. You don’t have to take time to build a backup plan, you’re working on it every day.
  • 36:39 Sean: Is it like if you have been building assets, you don’t really need to spend that much time on a backup plan because the assets are your fall back?
  • 36:52 Matt: I think you said it straight with what a backup plan is: a willingness to work. As long as you have that, you’ll be building your backup plan without even knowing it. I always tell people to stop worrying about your backup plan. My thing is to get more properties and stop crying about having a month of runway left.
  • 37:45 Sean: You sound like the guys at my retreat. We have a plan for the next six months or so to get cash, but I want to get our business runway to six months. I want $200,000 in the bank and we have a plan over the next several months for how to get there. Part of that plan involves things I need help with—basically, I need people. I wanted to hire a guy and they’re like, “What about the people you have already?” and said, “Nope. They’ve all got jobs.” They were like, “Are you sure?” so no more hiring.
  • 38:40 They said this $200,000 is our new baseline, our new minimum. Anything less than that is going below the baseline, which isn’t good. Sine we’re not there yet, I shouldn’t spending money that we don’t have because I need to see $200,000 as $0. Anything that’s spending money below that is like debt. That’s what made it click for me! It doesn’t matter if we have tens of thousands, we can’t afford to hire someone. You’re right, Matt. You gotta send out the boats, get the gold, create the art, and do the work.
  • 39:52 Matt: Once you hit that baseline, what do we need to do? Are there holes we need to patch up? Do we need more boats? Let’s do it. That’s what entrepreneurs don’t do, they don’t set that baseline. They see $30,000 or $50,000 and think that’s enough for a runway and a little extra. Don’t you need another $30,000 next month? They say, “We’ll figure it out when we get there.” I hate when people see that. You’re just sinking yourself when you say that.
  • 40:28 Sean: What’s not good is every month stressing out about how you’ll make it to the next month. That can happen at every level—that can happen at scale. It’s not like once you’re dealing with six figures, then there’s no problem. If you expenses have increased to six figures, then you’re back at square one.
  • 40:49 Matt: I always tell my dad that I’m more scared now than I did back then. I have more to lose now. Our expenses are just so high. We make more, but what happens if we don’t? What happens if we have a bad month?

Normalize Big Numbers

  • 41:05 Sean: Back to the gambling analogy, if you’re playing with your friends at home and you’ve got your own chip set with 1, 5, 10, 25, 50, and 100. Maybe those represent cents, so 100 is $1 and then when you get up to the big leagues, the starting chip is $100,000. It’s the same game that you more or less play the same way. When you lose, you just lose at a grander level. When you win, you win big.
  • 41:53 Matt: People are always telling me I need to stop thinking in terms of $100,000 being like $100, but if they played my poker level game, you don’t get excited about $100,000.

If you think $1 million dollars is a lot of money, you might bet $100,000.

If you think $100,000 is a lot of money, you might get $10,000.

  • 42:17 Sean: You need to normalize what feels big to you if you want to be able to achieve it. How do you normalize it? You listen to people for whom talkinga about those kinds of numbers is normal. That’s the best thing I ever did. For other people, they say, “Congratulations on your big launch!” when it’s five or six figures and I’m just like, “Yeah.” It doesn’t phase me anymore. When we make seven or eight figures, it won’t phase me because I’ve been thinking at that level for some years now. I’ve normalized that. I’ve overexposed myself to that way of thinking and that way of talking.
  • 43:10 I’m listening to people who operate at that level. I’m normalizing it for me, and that’s how I’m going to transition into actually living that. I’ve normalized something that’s even bigger. You’re not going to get to a million a year if you think a million a year is a lot of money. I don’t think a million dollars is a lot of money! I’d like to be making a million dollars a month and that’s still not a lot of money to me. That sounds absurd for a lot of people listening to this show.
  • 43:53 Matt: In the beginning, it sounded funny when we talked about the bigger numbers—$100,000 or a million—not thinking that $100,000 a month is stupid. We’re not thinking that only the Bill Gates, Mark Cubans, or Trumps can make that kind of thing.
  • 44:16 Sean: You will see both me and Matt in the future making seven, if not eight figures a month. You’ll see it and you’ll refer back to this episode when we had tens of thousands in the bank.
  • 44:34 Matt: It sounds stupid, but you have to take a step back and start listening to people throwing those kinds of numbers around and not get offended or emotionally attached to it. When I say, “$200,000 or $300,000 or whatever,” I’m not being disrespectful. I respect money. It’s a tool. I’m actually afraid of losing $200,000 or $300,000.
  • 45:08 Sean: As Anton Kreil says, “You need to respect money, but be indifferent to it.”
  • 45:14 Matt: You’re the one that’s going to control it—it’s just a tool. When I see people at family reunions and start throwing around big numbers, they’re just like, “You don’t respect money.” If I say that I spent $100,000 on something to upgrade, they hold they’re head, sweating, and say, “I bet that hurt you!” Well, that was a business expense. It didn’t hurt my bank account. They get bad at me because it’s not a lot of money for me! I say, “Take a moment and think about it: if every day you were to hear the way different millionaires and billionaires talk about money, they’re not afraid to throw out a large number.” The poor middle class gets so attached emotionally to a six or seven figure number that gets thrown out.
  • 46:25 Sean: Like Anton talks about, they think something of the money and the money doesn’t think anything of you. It’s just a commodity. You have to respect money but be indifferent to it. You can’t be emotionally attached to it. You can’t think something of it—it’s just a number. It’s just a quantity and you’re used to dealing with very small blocks. Eventually, you’re used to dealing with big blocks, like poker chips. It’s the same game, it’s just a scale thing. It’s learning to think in bigger blocks, bigger chips.
  • 47:07 Matt: One of the things my mentor always told me in the beginning was, “You’re going to start making more and money and as you grow, don’t get a big head. Remember you’re just a stuart of the money. You could get knocked out any day and the money is still going to be there.” This of yourself as a stuart, a manager, of the money. Don’t think of it as your world. He said, “I want you to look at those numbers and I want you to remember they can always go away, but as long as you respect it and remember you’re just managing it, you won’t have any problems. I see a lot of my peers make and lose money and it affects their mood. I don’t want you to be like that, Matt.
  • 48:02 “Our saying around our company is, “We live to serve.’ We always want to be second fiddle. We don’t want to always be pushing for chief. Everyone wants to be a chief. Be the second fiddle, because the second fiddle always comes out first in the end.” So now we respect money, but we don’t get emotionally attached to it because it’s just a block. It’s just a game. We have to play to win. Everything we deal with is a tool—it’s a moving piece. We have to play our part to make sure that gold gets back to our place.
  • 48:45 Sean: You have to normalize what’s big to you. If you’re offended by someone saying, “$200,000 or $300,000 or whatever,” then you’re never going to get it. Anyone who’s offended by big numbers isn’t going to get big numbers. If you’re going to get it, you have to normalize it.
  • 49:02 Matt: Thinking back to when I was a kid. If you had quarters, dollars, and five dollar bills, you were the kid on the block. My brothers and I would sell lemonade on the corner and we’d go to the bank to put our money together, so we had 10 and 20 dollar bills. We became the rulers of the street because of that! When we got into the snow cone business and we have hundred dollar bills, they were bowing down to us! The more you look forward, the easier it is to look at the numbers as just another number.
  • 49:56 Sean: As soon as something feels big to you, you’ve established your ceiling.
  • 50:03 Matt: Don’t do that. Just look at it as a number. Have respect for it, but like we always say here, we’re waiting for reality to catch up with us. We already have Lambos in the driveway. Tell yourself that you’re already in the future. Don’t be stupid and do things that try to get you to the future quicker. Talking about gambling and risk, you’ve got to be smart about it. It’s a game, but have respect for the game and play it right.