How to Start a Business in 2023 – Alexandra Gonzalez-Ganoza @EvanCarmichael

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There's four main things that we always Look at for a channel the first is a Frequency the second is length either Super short under a minute or 10 minutes Plus the next is going to be your Click-through rate which would be a Function of your thumbnail and your Title and then the first minute Retention think about how can you charge A higher price to fewer people it's Easier for you to get five clients who Will pay you three thousand dollars a Month like focus on that Here at Millennial money we always talk About the importance of starting young And and using your entrepreneurship Skills at a very young age and today's Guest at 19 bought and sold a biotech Software company at 22 he became a Venture capitalist raising about 500 000 To 15 million and now owns a very Successful YouTube channel for Entrepreneurs and has over I think has Written four books so Evan thank you so Much for being here with us today great Great to be in studio yeah and you know My buyer better than I do so that's Great it's awesome I did my homework Before seeing you yeah I mean you have An incredible story you've inspired so Many people and I think it's a perfect Fit for our audience because you started Very young too and sometimes we don't Think you know we have the wisdom to

Start but you clearly did so can you Talk to us a little bit about that Journey so I had a lot of Entrepreneurial Tendencies growing up But I'm I'm maybe the edge of Millennia When does Millennial start oh geez I Didn't know that because technically I Could be a gen zero so so like I'm 42. I Think that's just like the first year of Millennials yeah so I'm like the Grandfather of the Millennials so when I Was getting started entrepreneurship Wasn't a thing it was you had to be Weird to want to start your own business So I had a lot of entrepreneurial Tendencies growing up but I never Thought of becoming an entrepreneur Because I didn't know anybody who was Entrepreneurs so growing up really young I mean I made my first 10 cents uh Selling art that I made when I was five Years old kind of going door-to-door Selling art to my neighbors that was Super fun and then I did a bunch of Garage sales and like baseball card Trade shows and I remember uh when I was 12 13 buying and selling baseball cards And negotiating with people who are like 40 and they felt like ancient you know And I'm 42 but the 40 year old said like These guys are so old and negotiating With them over you know a dollar right And in Canada our dollars are coins Right so the guy guy would give me a

Dollar but it would have mud on it it's Like okay I'll clean off the mine it's Still a dollar yeah right but in my high School yearbook when they ask you where You're going to be in five years I said VP at a bank because I just thought I Love money I love making money but the Only way to make money was to go get a Job and go into banking Um in University I connect with two Entrepreneurs who had started a company And the hardest decision that I had to Make was do I go take these investment Banking jobs and make six figures like Right out of University or take 30 Percent of this company and make 300 Bucks a month and that was a really Tough choice at the time all my friends Are going off and getting all these jobs I think okay you know I should go do That like my head was like I should go Do that but my heart was like I'm going to regret this like if I don't At least give it a shot I'm going to Regret it and so I went with my own Business we struggled we sucked we can Dive into that if you want I quit on my Business partner for a day Um and eventually we turned it around And made it built it sold it Um but a lot of it was I just I loved The idea of business and making money I Just didn't I mean I wish your channel Existed when I was like YouTube wasn't

Even around so like Robert loves to say All the best teachers are on YouTube and Uh you know I think now there's so many More opportunities for for young people To get their business off the ground Um I don't know I probably won't even Gone to University you know yeah I had Yeah yeah and that's incredible because Like you said back then it wasn't it Wasn't common to be an entrepreneur Where now it's incentivized and um what I find really incredible about your Story too is uh 19 right you you become The Um a partner of this biotech software Company and you do you take that 300 Salary a month And you leave the the you know Everybody's passion at that time which Was the high paying career right like Six figures Um what prepared you like you said you Had Tendencies of an entrepreneur but What prepared you to make such a big Decision Um I struggled a lot so it wasn't just Some easy oh yeah that's looking back it Looks easy but in the time I had no idea There was a quote from Jeff Bezos where He talked about his regret minimization Framework which was basically don't live With regrets and I would just imagine Myself thinking okay when I'm an old man At 40 you know I'm 42 now when I'm old

Man and it's finished at 40 you know Life is over I'm going to look back and Will I regret this or not and I just Felt like I would rather know and fail Than not know the idea of trying this Business and and not knowing and not Getting into it I felt like that would Haunt me forever so I just had to know Even even if the most likely scenario Was failure which I thought it was like I thought okay I'll give it a shot for a Year I'll go all in on it some of my Friends were backpacking across Europe Or whatever for the year and then in a Year I can go get another job it may not Be the same job it may not be as much Pay but I can get another job I may not Get this opportunity again so I had to Say yes I just didn't want to live with Regrets yeah and and while you're like Living off of like that 300 Um dollar salary you know your friends Are traveling some of them already in Their high paying careers I guess on a day-to-day basis what's Really pushed you through those mental Barriers of you know living below your Means too probably at that time that was Rough Um I made it hard on myself because I Was too embarrassed to tell my friends That I was struggling you know so when They asked me how am I doing it's like Oh I'm hustling I'm living the

Entrepreneurial life you know I'm Grinding the dream yeah and you're like I got nothing I got no money man I'm Eating the same bean salad lunch every Day Um the living below the means part Wasn't that difficult like I ate the Same I had a bean salad lunch every day It was it was cheap like can of beans it Would fill me up Relatively healthy Um when we closed a sale we would go to McDonald's and get a large fries and Share it between the three of us right So like that was our win like we can Afford a large fries at McDonald's but The hard part was with my friends who Wanted to go out and you know hang out Birthday parties whatever because I Isolated myself and said I was I was too Embarrassed I was too ashamed I said no To going out to things because 25 bucks For pizza and beer like I could pick one Thing per month and that was it and so In looking back If I was just honest it would have been Easy I'm sure they would have spotted me Or yeah it would have been fine but I Was too embarrassed and ashamed and I Didn't tell anybody so I made it harder On myself than I think it needs to be Yeah and I think entrepreneurship is a Super lonely game but it doesn't have to Be if you let people in and just let

Them know You know that sometimes you're Struggling and that's okay and and I Love that too because you know just this Past weekend I was a empowered investor The real estate conference and like you Said sometimes we try to pretend that We're doing so much better but when you Open yourself up and You're vulnerable Sometimes there's solutions to these Problems like so a lot of people started Telling me you know I have a rental Property I was just facing a couple Issues and I was just vulnerable I was Like you know what I don't need to Pretend to anything I I want to speak About exactly the issues that are that Are happening in my property maybe this Will help someone or maybe someone can Help me and you get so many answers too So really there is a support group like You said and and we don't have to be Ashamed either Yeah I mean asking for help I still Struggle with Struggle for ask for help but but we all You know I think a lot of entrepreneurs Love giving and love serving love Helping so just letting people into your World and letting them know like people Can't help you if they don't know what What you're doing with or you're Struggling with and we tend to look to Instagram and we see how perfect

Everybody's lives are and just to Highlight real like oh I'm not there so I suck Um but the way to actually get ahead is To share What you're struggling with and what you Need help with and maybe the person if Anybody can help or maybe they know Somebody who can help and that took me a Long long long long time and I'm still Not fully comfortable with it but it Took me a long time to even understand Yeah Um so yeah if I knew that when I was Getting started holy cow insane and and You've talked about how like you know Being uncomfortable right and and seeing To yourself and not opening up about Your struggles and also you know today's Generation social media how everything We see in someone else's life is so Perfect right and we see the perfect Picture life in one minute and one real How would you say because we you know Talking about the characteristics of an Entrepreneur and how you need to be Extroverted and your number one skill Needs to be sales and Um we think it's the idea of maybe Everything has to be perfect but you Were an introvert you know you said you Valued a lot more as opposed to Quick Starting things like maybe Perfection How did that mold you to be the

Entrepreneur you are today or how did You not let it get in the way because a Lot of people let them let that hold Them back yeah yeah talking about all Those struggles It's like I'm a therapy Let's get out of there yeah that's great Um I I really struggled with being an Introvert and feeling like I would not Have success because when I looked at Who I thought were big entrepreneurs They seem to be very extroverted they Seem to have powerful opinions you look At a Mark Cuban or Kevin O'Leary or Whoever it's like they are always Not loud mouth might be the wrong word But they're always they're always Seeming to be really extroverted I feel Like well I'm not I'm not like that so I Guess I'm not going to have success and Um I have the same agent as Grant Cardone and Mel Robbins and some other People and when I first started working With him he's like Okay evan we need to We need to get you famous like these Guys like oh but I don't want to be Famous he's like what do you mean you Don't want to be famous everybody wants To be famous no I don't want to be Famous who would fight for years about Me being famous and then eventually he Said something or or maybe I was just Ready to listen but years in he said the More people who know you the more people

Hear your message like ah okay so it's Like if people know me then they'll end Up believing themselves a little bit More and that's the thing that pulls me Out of my introvert shell so naturally I'm quite introverted right it feels Weird to be like oh my gosh we have Cameras on me this is kind of weird uh We've done enough of it now that it Becomes more you're comfortable right Now yeah okay but in inside Pockets I'm Comfortable right so if we're going to Talk entrepreneurship or we're going to Talk about salsa dancing we're going to Talk about you know League of Legends I Can I can like go deep and be really Excited but if I'm sitting next to Somebody on the airplane like I'm not I'm not saying Okay okay right uh I Don't know what to say so hey so what Are you doing in Arizona today you know It's just it feels super awkward and I Think the introvert hack to sales is We're great listeners and it's not about Us talking and we're actually listening For the problem which I think actually Helps you sell more than just talking Talking talking Um and we care about deep conversations Meaningful conversations not just Superficial how's the weather today how About those you know whatever hockey Team or sports team and Canadians Default too

Um and I think that actually is an Advantage But I never saw that as an advantage Growing up see those are things that Took like years to slowly really value About yourself yeah I remember I was Sitting next to this guy in an airplane And we're going to this Mastermind that I was speaking at it's in Puerto Rico It's like 50k to go to the event and I'm I'm one of the speakers and I'm sitting Next to this guy and I remember Everything about him he came from you Know Vancouver he's doing a a hop over He like he has a special leather Backpack he wanted like his coffee Served to him once he got up in the air Like all of these things but I never Talked to him and he's trying to make Conversation with me and like um yeah You know just like try to like please Stop talking to me you know I'm focused On nothing really important Um but then when we landed you know I Got off and and then we ended up both Going to the same hotel and I saw him in The lobby And I'm like are you at this event oh Dude you're an entrepreneur and then we Started talking like we had and then There the conversation we have like Hours on the plane where we didn't say Anything because I didn't know he was an Entrepreneur but now that I know that we

Start talking so I think inside these Pockets I can be very excited but for The most part like super shy introverted Don't talk to anybody but I love I say That because like even so for example Kim on one of the episodes that we did She talked about how she always believed She needed to be more organized like That was her you know like just one of Her biggest flaws and she realized that Really just like being this disorganized Person is what allowed her to flourish And like quick start so many projects And you know build businesses quickly or Jump into real estate and she just found Someone who helped her like have an Organized structure to that Disorganization and so you know even Like you for example if you're Introverted finding the areas that you Flourish in that you can adopt and that You like the conversations for and you Also mentioned like the mentor that you Had Um is that when you were talking about Him is that Steve because I was reading About Steve in your life and you know he Seemed like a very pivotal and important Part in your career because You know you're okay you're introverted You're wanting to inspire all these Lives and I believe you pushed you right To start creating content He pushing I was already making content

But he pushed me to level up my game Okay and when I first started working at The agency he said most people who come To us They have uh they had the ability to Speak on camera but they don't have a Message and so we have to help them like Hone their message and their branding You're like the opposite you have a Great message but you're you're like you Don't want to be famous and you suck on Camera right and I don't even making Videos like five years at that point Like I suck on camera thank you Steve This is great but he said I'm going to Take a flyer on you and uh he he really Pushed me to get better and uh he gave Me assignments so the first assignment He gave me was okay I need you to make a Video telling your foundation story It's like why do you do what you do Where did you come from and he gave me a Template for what to do and these were Like 20 minute videos that he wanted me To make and what I would do is I'd make I'd start in the morning I'd film Something send it to him you give me Feedback I'd do it again at lunch he Gave me feedback I do it again overnight And they give me feedback so doing like Two to three times a day I did about 40 Takes of these 20 minutes like it's not Just some six second thing right uh and Every time you tell me something to

Improve and how to get better and within A couple months at the agency I went From being the worst that you know Almost didn't make it into being the one That he was then pointing the other People to say hey you should do it more Like Evan and that's not because I had Natural skill it was like the exact Opposite it's just the willingness to Listen to a mentor and then put in the Work to try to actually get better yeah And practicing and practicing and so I'm curious too like was was did you Already have your mission established Like before seeing Steve or did Steve Inspire you to like I need to believe in Other entrepreneurs as well I think I I had believe already but Steve helped me bring it more to the World right he helped me realize hey I Can be the guy I think whenever we come Up with a big mission the first thing That often pops into our head afterwards Is I go who am I I can't be that person Yeah I'm not who it's not even our Friends or families us telling ourselves That we can't do something and so Steve Helped give me more confidence that I Could play in a bigger stage when I Didn't necessarily see it in myself and His belief in me gave me belief in me I Think that's what great mentors do it's Like they give you tactics but it's also Their belief in you to play on a higher

Level gives you the belief that maybe You can yeah and Find like your Steve right because There's a lot of people I think in the World of Entrepreneurship a mentor is Probably the most important thing and Especially like you said someone who Believes in you thankfully I had my Family I'm a family full of Entrepreneurs I know a lot of people Don't have that yeah and really frankly Besides my family I had other people in My life that I met at the Rich Dad Company that made me believe in myself That gave me the courage to invest that Gave me the courage to quit my job and Everything and so I know the value of it And if you don't have it I I think it's a really hard road to Become an entrepreneur how did you find Your Mentor because that's that's really Hard for a lot of people yeah the trick Is when you when you find somebody who You like who you think they're ahead of You and you think they might have Something contribute like just you have To find a way to get closer to them so I'll give you two stories but first with Me and Steve I met Steve through one of his clients So one of his clients was in Toronto Same city as me and we met at a coffee Shop and he had this idea for the pitch On a YouTube video and he said that his

Agent came up with this idea he's like Agent like what do you mean agent yeah How do you have an agent like a business Guy or like a YouTuber how do you have An agent because I thought agents were Only for sports stars or musicians like How do you it's like yeah I have an Agent he represents like thought leaders Like ah okay can I can I meet him and uh So he introduced me to Steve I'll help Him out call Steve made me feel very Uncomfortable you know in all the in all The right ways Um and and that led to me wanting to do More with him even though I didn't fit The typical So it's it's following the Curiosity Right if I never I met I met this guy in Toronto his name was Sean and if I never Asked Sean about the agent I wouldn't Have had that conversation Um fast forward a couple years ago there Was a guy Jeremy who came to one of my Events and he paid like 2 500 bucks or Something to come he's 18 19 years old He is working as a grocery store clerk Like hates his life doesn't want to work Grocery store doesn't know what he Really wants to do likes my energy saw My YouTube videos come to the event it's Three day event at the end of the event He messages me says hey Evan I just want To like how do I spend more time with You

I don't have any skills yet but I'll Walk your dog I'll I'll clean your car I'll mow your lawn like I just want to Spend more time with you and I messaged Him back said that's super amazing Jeremy but I don't like I don't need Somebody to walk my dog or clean my car But um but thank you Um a couple months later I was driving On my tour and I'm driving through this Desert in Texas and I think of Jeremy And I thought huh maybe I could teach Jeremy YouTube Okay Wonder people keep asking me about YouTube and they want me to do work on Their Channel and I don't I don't want To do that as a business but maybe I Could teach Jeremy how to do it and so We got Jeremy on the phone that moment Uh he took a little break from his Grocery store you know job and said Jeremy I want to teach you YouTube we'll Start a business together and I'm away For the next two months on the road so I Need you to watch all of these videos And learn everything you can about YouTube and when I come back if you've Done that I'll help you build a YouTube Consulting business wow Um and we did and now he's got a high Six-figure YouTube business Consulting he made six figures in the First six months or so what happened in His business

Um and that's from being a grocery store Clerk right but if he didn't do that Outreach to me I wouldn't have taken a Shot on him either it's just the the Heart and the energy and the care and He's just I'll wash your car and I'll Clean you know I'll hang out with your Dog I just love the energy and even Though nothing came up in the moment he Was in the back of my mind to say okay Maybe I should do something with Jeremy And so it's it's trying to be in a room Where you get to talk to them but then It's it's almost uh uncomfortable like Next ass and showing your hunger and Your commitment level and then the key Thing is when you get that is you ask One question to the mentor Because successful people actually love Mentoring but they also hate wasting Time like time is the most valuable Asset and they love mentoring but they Hate wasting time and a lot of mentees Waste time yeah because you don't do the Work so the best thing you can do if you Want if you're trying to get into a Mentorship relationship you ask one Question Like what's the one question you've got To ask Robert Kiyosaki one question like What's the one question that you want to Ask him right and then don't ask another Question because that's what people will Do they'll come back and say oh what

About this and what about that it's like No no like do the work on the first Question that he gave you an answer for Yeah and then go home and actually do The work and if you get a result then You can come back and ask the second Question hey I asked you this I did this Now my I've got five Apartments man Thank you from your advice now I'm Struggling with this he's much more Likely to give you a second answer Because of the work you did in the first One yeah or if the advice didn't work Make sure that you tried it a hundred Times right it wasn't just you tried you Made one phone call and it didn't work And so they didn't do the advice sucked Right because if you tried it a hundred Times and you showed the effort then He's willing to answer a second question And a mentorship relationship is not hey Will you Mentor me because that is a Relationship and the mentor understands The value of that relationship and you Come in it's like walking up to somebody Hey will you marry me it's yeah it's Super awkward I was like no right but How mentorship happens is is one Question at a time right you ask one Question go do the work you come back With a second question do the work now All of a sudden you're getting mentored And they the mentor will see the hustle And drive the energy in you and they'll

Start thinking of other opportunities For you as well so that first step is You go to conferences you go to events You ask one question and then you you go Off and do the work and give them the Update and that leads you to creating Mentorship relationships I think that Formula you gave to find your Mentor is Is perfect like I I had never been able To find the words to exactly put it that Way Um because that's yours Jeremy's story Is actually pretty similar to mine right And so I I meet Robert I meet the team And I'm like crazy to learn more about Financial Freedom to live my passion to Become an entrepreneur and Um and you know I asked the right Question I executed I wanted to show for Me it's always how do you add value and So I wanted to prove that I could add Value to their life so that so that they Could see value in me right and and have And have me become like a mentee and Like you said it's power of Association Too right what rooms can you be in with The people with like-minded people that Want to take you where you want to be And that's exactly what I do when I go To these conferences like each time I Come out with like a new mentor and my My Approach is always and I I would say It's naturally like I'm like this I'm Not trying to be selfish about it but I

Try and find a way to help them first Whether it's marketing whether whatever They might need I try and find a way to To just give them what they need and Then sometimes you know they they want To help me in return so that's powerful Like what you said that's literally the Perfect formula to find your Mentor yeah And I know you know the show is talking About money as well and I think one of The biggest mistakes I made early on When I when I had any money was I just Tried to invest it and put into the Stock market and I remember like I had Two thousand bucks like okay I'm gonna Put in the stock market it's gonna grow He's like oh it's like taking so long to Grow it's only two thousand bucks where Jeremy actually made a much smarter call Like I think at the beginning you invest In your skills and you invest in your Network because that 2500 investment That Jeremy made now has a mid six Figure or high six-figure business every Year because it came to that event but Income put it into the stock market sure It would grow yeah but I think at the Beginning you need to invest in yourself To get the skills that you need to be Able to then create the network and Create value for other people yeah and And when entrepreneurs any entrepreneur Here watching you're thinking about Starting your business the easiest way

To start making money is to provide a High value business or service to people Who have money to pay you and so getting Into YouTube Consulting is great because There's not a ton of people into it yeah Right it hasn't been around for 40 years If you're going to get into tax account Accounting that's a great business to be Into but you have to have years of Experience to know what you're doing Right I did um I did an interview with Tom on his channel like that guy's an Expert yeah he's a genius he's a genius So if you're going to go and compete With Tom it's going to take you so many Years to even catch up to base level of Knowledge but in YouTube Consulting it's Easier because there is nobody really Who's been doing this for 40 years right Or you're a chat GPT consultant and You're helping use AI for people in the Copper who is the expert on that like There's nobody because it's still so Brand new so this is the area where it's Super high value for clients but there Aren't a lot of experts at it so for you To spend six months becoming great at it You could be now in the top one percent Of all people who know how to use that Thing and then start charging for your Services on top of it right Um and so that's the way I like to think About it and then I combine it with and Just giving kind of making money tips

Um think about how can you charge a Higher price to fewer people where a lot Of people will start off trying to sell A course or trying to go big but to make That work you have to have thousands of Clients which is really hard at the Beginning it's easier for you to get Five clients who'll pay you three Thousand dollars a month like focus on That be a YouTube consultant be a chat GPT consultant be something that is of Value right now and find 10 clients Who'll pay you three thousand dollars a Month right that that gives you the base To be able to build a real business off Of instead of trying to go scale from The beginning because most people who End up trying to go courses uh from the Beginning end up selling two courses Yeah and never making any money and that Model plays out like you look at Tesla They started with their high-end cars And then they go to like the medium cars And how they're going trying to go Mass But you start with a service to Target People who have money who can pay you so You start making money bringing it in That then allows you to invest more into Your team and scale right I've got 50 People we just crossed 50 people in my Company and I can do so much more like If I didn't have 50 people or my team I Wouldn't be here with you because I'd be Doing everything else myself yeah right

Yeah so like the ability to start making Money so you can invest in your team so You can really start to scale your Business I think becomes really Important and I I love that that's Actually what I did too when I first Started like my marketing company is That I started you know trying to Specialize in just one skill and then Being able to offer it to other people Right Um and I think something that a lot of Entrepreneurs face actually is okay you Specialize in your skill you start Offering it to clients and you start Growing right you start getting your Clients Um Apart from like for example your mentors That you've mentioned who else is Important on your team right because a Really important aspect of being an Entrepreneur is building your team so How did who who are the first people That you acquired on your team when you Were small and who are fundamental now That took you to like this bigger level Yeah that's a great question I think if You want to scale your business you need Team you could build a three four Hundred thousand dollar Consulting Business by yourself with a You need you need team to scale and so Then the question becomes what needs to

Get done in the business But that you don't like doing or you Suck at doing and then that's the thing That you need to Offload so there's not one role for Everybody but like Kim if Kim doesn't Like organization yeah she'll do it if She has to like at the beginning I'm Sure she had to stay organized and Everything but like this is not my Superpower so her first hire should be Somebody who can help her organize all Of her stuff right yeah for me I did not Like any of the behind the scenes stuff So I was doing everything for my YouTube Channel at the beginning and then as Soon as I could afford to I hired uh Somebody to do editing Is amazing right shout out to all the Editors who love doing the editing Because we need you right uh and so that Allowed me to be a lot more productive So whatever the thing is in your Business that is required but that you Don't like doing because you're never Going to win ultimately doing work that You hate yeah so at the beginning you Have to do everything okay but then what Are those tasks you can then hire Somebody to do and I'm also a big fan of Hiring part-time at the beginning There's a couple things one it's cheaper A lot of times people think oh I have to Have their full-time employee it's going

To cost me this much and I don't have That much coming in cool the first Person I hired was one hour a day like You can hire people for one hour a day Especially if it's online remote Depending on the type of work that needs To get done which is a lot easier to Then get started and build momentum Instead of having to wait to have a you Know bucket of money to be able to give Somebody and two it also helps you get Better at managing because we don't Where do we learn to manage people you Learn that in school right we don't Learn how to manage people we're at Usually the opposite in school which Robert loves talking about it's like It's cheating it's cheating to look at Somebody else's test or work together Right you got to do all by yourself but Like that's the opposite in business you Have to do it as a team so where do we Learn the ability to manage and delegate We don't right I think a lot of people Even if you think about school projects We're usually the ones like hard Carrying the school projects or we're Taught to be like the smartest person in The room right like you always want to Compete against the person next to you Yeah where Robert teaches us like you Don't want to be the smartest person in The room you want your team to be the Smartest people in the room it's

Completely counter to what we learn in In the school system so so great you Know if you've never LED somebody before You're probably not going to be a great Boss it doesn't mean you're going to be A terrible boss you're going to chew Them out and they're going to hate you But you need to learn how to actually Manage people and so it's easier to Manage somebody for an hour a day Part-time while you're still running Your company then to have a full-time Person who you're now committed to it's Very rare that the first employee at any Company is still there Look at employee number one and 10 years Later like that person's gone not Because the person sucked it's because You sucked as a leader yeah like you Don't know how to hire you don't know How to delegate you don't have a manage You don't have a train we think that we Get somebody in and then oh this Person's just going to take off all my Problems you gotta you gotta train them You gotta Mentor them you gotta help and So it's easier to get started like That's a skill that you will that will Serve you for the rest of your life no Matter what you end up doing uh but it's Easy to get started when it's a Part-time thing so whatever the skill is That needs to be done in your business That you don't want to do anymore that's

The person that you hire and ideally Part-time so it's cheaper for you to get Started and you can start to work on Your leadership muscles if you're Feeling inspired now to build your six Figure business click the link in the Description below to grab your free Ebook so you can fire yourself and take The leap from employee to entrepreneur And like you said Evan like time is Money right and so it's so if you're Going to be exchanging that if you're Going to be paying someone else so you Can free up your own time it's not like Just that you can sit back and and see How the business grows on its own it's That you can reinvest that time into What you're good at maybe making more Videos or training the people like I've Trained my va's I spend a lot of I spend A lot more time on them than anything Else so that they can execute like the Quality that I want and so that they can Also learn from me and hopefully apply It to someone else so I think that's Important too like you're not just Paying someone to to take over the task You don't like you're paying someone so You can have more time to reinvest in Your business as well yeah and and so I'll do different days for different Tasks and Monday is is mentoring day oh To spend the whole day mentoring the Team so I'm on 25 minutes usually 25

Minutes on and then five minute break 25 Minutes five minutes nice and I the Whole day just mentoring different People on the team where they're at what They're struggling with Um how I can help And some people I talk to more often Than others depending on their role Inside the company but you don't Necessarily have to do that but I think Being a good Mentor and a good leader is Important because of me so that takes a Full day every week out of my account Owner to do but they're off contributing At this point they do a lot more in the Company than I do yeah me working Full-time I still can't Even if I'm doing 100 hour weeks like I'm nothing compared to the 50 people on My team doing all their work so the more I can level them up the more it helps me Build the company too and I think that's A really important aspect right like Your team needs to be aligned also with What you do and so I reached at our Mission is to elevate the well the Financial well-being of humanity right So can you tell us about like your Mission and how your team is also Passionate about your mission Yeah I think the world's biggest problem Is people don't believe in themselves Enough so I think whatever problem we've Got in the world it's going to be solved

By an entrepreneur I think yeah it's not The government or everybody else it's The entrepreneurs I think Um so like cancer you know the woman who Would have solved cancer by now is uh You know a manager at McDonald's because She never believes in herself to go to Med school enough right so that's what I'm trying to unlock with people hey how Can you believe in yourself more to go Off and become what I call the Michael Jordan of your industry like everybody Has Michael Jordan level genius at Something but we either don't believe That we have it or we don't believe in Ourselves enough to go chase it down and So that's the mission of the company That what that's what I try to create in Everything I make you know even in this Interview I try it's always the Intention whether it happens or not it's Always the goal uh and when we're Recruiting for that we'll lead with the Job ad would be if I'm hiring a video Editor A video editor who believes in Entrepreneurs like that's the title and Then the the first paragraph would just Be all about believe the message what We're trying to create and we're trying To have people uh select in or out Right so some people look at that and Said this is the stupidest thing I've Ever seen I'm just a video editor

Believe in entrepreneurs cool like don't Apply because we're not gonna like You're off you're better off somewhere Else and we're better off with somebody Else too right and then we want others Who will look at it and say wow this is Awesome you know and they'll spend more Time on the application to try to get Into your company because they love the Mission so much my main video editor her Name is Christina she's been with us for Over a decade now uh got believe Tattooed even before Um Wow she's just aligned with the mission So when she saw this like oh I want to Work there and in the job I asked her to Do something we always do a trial job Because I don't think you can get as Much in an interview people can like if You're hiring a video editor If the AC interview or not doesn't Matter like their communication skills Are not the thing you're hiring them for Right yeah a salesperson maybe but a Video editor or something technical it's Like I need to see you do the way I say You can do it yeah so we'll always hire People on a trial job so like hacks for Hiring right we'll hire somebody and We'll give them a job that should take Two hours but we'll pay them for up to Five okay And we'll pay everybody for up to five

So we do is two things one it sees the Day that they like milk me if they take The full five hours right because I Don't want I'm not a very micromanaging Boss I'm not looking over your computer And like what do you got I hate that Stuff so I think a lot of entrepreneurs would be The same way so how do you especially if It's remote know if they're like you Trustworthy or not yeah that they're Executing based off of the value that They're getting exactly so we get to see Right yeah we'll pay you so it's not Some free job it will pay you for up to Five hours but internally we know this Should be like a two hour-ish job so we See either they they took the full five Hours that they didn't which is already A gauge and then we're looking for Somebody who over delivers so Christina When we hired her we hired maybe 20 Video editors at the same time for doing The trial job but she was the only one Who came back and said okay here's what You asked me to do and I did it here's What you asked me for but like what you Asked for kind of sucked so I made my Own version of it that's better wow Wow she didn't use she said that a lot More yeah she presented yeah exactly Don't say that your clients suck when You're working yeah but basically that's What it was right I asked them I asked

It for the trial job for them to do uh Edit like I was editing yeah right but I Suck at editing right I mean what do I Know and so she's a professional editor She said okay I did your style and then I did what I think would be better I was Like wow that's so much better let's go Christina right and so we hired her and Then you know 10 years later we had her Husband we hired we've hired her friends Um and she believes in the cause that We're creating but contributes her Skills so she doesn't want to be in Front of the camera yeah telling stories She loves editing them to bring them to Life right so finding those kind of People but you need to lead with it Right right from the job ad Um right from the mission so that people Get either it's a magnet where they Either like pulled away and repulse like This is dumb or they love it so much That they want to spend more time with You I love that and so obviously your Whole company is built off of like this Very strong Mission like it's clear from The get-go you know all your videos Everything you've done for entrepreneurs Um and thank you for that right but I'm Curious to know if there's ever been a Time that you've maybe put the profit Over making a difference and like what That experience was like like what did You learn from it if there even was a

Time Um I'm kind of in a weird situation Where at the beginning I had no money I Was like dead broke 300 bucks a month Eating salad every day right bye and Then I sold my company And in three year period it went from Being broke to not being like crazy rich Not like going off and buying Lambos and I would like not need anything not Needing to worry enough about money so I Think making money is really important You know like if you're if you're an Entrepreneur and you're not making money You're not an entrepreneur you have to Make money Uh I would say it has to be in your top Five so if you list the priorities if Money's not in your top five you're You're not going to be a successful Entrepreneur you have to learn how to Make money but it's not number one Either and I think there has to be Something above money in your business Like what are you here for at least me Personally I don't know maybe there's Others who can do it and it's great Um and maybe I just don't care enough About money that's all that could be an Honestly like I care about impact and Growth and I'm sure if I maybe money Wasn't if money's number four for me if I made it number two you know I probably Have a lot more money yeah um so I don't

I can't think of any time that at least That I regret Money always comes into the equation you Know if we're launching a new video Series or a new company you know or work With Jeremy like I want him to make Money right it's got to make money Um I don't know that we've made a Decision only off of money and if we Have it's probably not a big one because I don't look back and say ah you know That no that was the one yeah you know Yeah if anything I'm the opposite if Anything I should be probably Prioritizing money more well it's almost Like there's like the processional Effect right where you're chasing Something else which is like you know Your passion your dream your brand and Then money comes after that right it's Just it's like a kind of like a what is A term called like a by standard effect Or uh yeah it's like a byproduct yeah And so Um and so that's it's incredible I think If you're truly making a difference in Someone's life then money will follow so Clearly that's what's been happening With with your story and what you've Lived through your journey of Entrepreneurship as well yeah I mean It's been it's been great I can't Complain Um and if anything I probably need to

Prioritize it more Um just like when people say well how do You uh balance like being humble with Like confidence and if anything like I'm Too humble right like but it's a bad Thing like it's like I don't worry about Being humble I need to work on being More being more confident in what you've Yeah it's like hey I'm kick ass at what I do and like actually owning that right So I'm working on it Yeah but we all have these things that Uh There's nobody who's like perfectly Balanced you know I think people think About people's views on money when they Grow up We either are told money is everything And like that next person coming in That's my next that's my next purse yeah That's my next pair of shoes or we're Taught that money is is Which it's like the love of money is That's the actual quote but that's Typically where we've grown up in uh and So I think like a lot of our beliefs Um the things that we strongly believe In are are amazing but we often take Them to too far a degree that it hurts Us so I used to think that anybody who's On in front of the camera that person Like is such an egomaniac like that Person hates their life that person is Just a scam artist you know right and

Here I am and here you are on YouTube Because if I didn't if I didn't get more Comfortable doing that I would my Mission would stay small right and so The the thing that gets me more kicked In the gear is service right so if I had A choice between hey this thing's gonna Help you make a million dollars this Thing's gonna help you reach 10 million People or whatever the service thing is The thing that will get me more out of My comfort zone where natural be scared To do either one like oh it's easy just To stay here and be yeah and stay home But the service thing is the one that Will get me going more but it's always Being conscious of that other side like I think you can learn a lot from people That you hate I think I think there's Something in the other side that you Don't like but you just like you could Use a little bit of that for yourself to Become better and and even from like the YouTube comments I'm sure you've Experienced like you can always use Whatever they're trying to tell you Might not be the best delivery but those That criticism to become better right so It can be hurtful but I think it can end Up making you grow into someone who Interviews better someone who finds Better guests as well so I think that Criticism can can stem into something Better and something that's really

Important too is like Like you said if you're an entrepreneur You need to be producing money because I'm not you're not an entrepreneur and So money may not be everything but it Does pay for a lot of important things In your life a lot of things that it Can't buy it technically can buy Happiness right because if you have a Family member that's sick you can take Care of them if you have if you need to See a loved one you can fly to them Right what are some ways you've used Money to kind of give back to this Entrepreneurial world I know I was Reading you did like micro lending and Stuff for entrepreneurs so yeah um how Should we give it away Um I want to say 200 000 or so we've Given away through micro lending through Kiva that was a program that my sister Helped me start oh wow uh where we've I Don't even know how many how many people We've given the money away to but it Wasn't just a donation it's micro Lending so like hey you you start your Business and then you pay it back and Then we give it to somebody else and Just keep keep it going I think the Biggest the biggest contribution though Is like through the work through the Actual content like most of the content Is free it's up there it's on YouTube go Learn I started the channel because I'm

A visual learner like if you had this When I started I watched every episode Oh Teach me Give me the answer I would have loved it Right and so I started making YouTube Content because it's what I needed and YouTube has changed a lot when people Say it was it too late on YouTube it's Like not even close because when I Started I made a six minute video and And I was getting destroyed that it was Too long nobody's gonna watch a six Minute video I didn't understand how the Internet worked like all of this stuff So it's really changed but now YouTube Is the place to go and learn right if You want to learn about real estate Everything everything is on there yeah You're not going to the library it's not About real estate even at this event That I was just at they started talking More about like um it was supposed to be Just real estate right yeah and they Started talking sometimes less about the Technical stuff and more about just like The personal development aspect of Things because they were like the whole Formula for real estate investing Getting started Property Management it's On our YouTube channel like go go watch It there today I want to talk about Something different yeah so there's a Lot of free resources tons I mean I

Remember uh Robert made a video I forget We had on maybe it was Tom talking about Buy borrow die yeah like oh my God I Love this that's great bye bro that is Amazing and Canada has slightly Different rules it doesn't work as well In Canada but I'm still trying to find Like the hacks to make it all happen but Like I didn't learn that at school yeah I didn't I went to I was economics and Commerce and finance and Entrepreneurship like I didn't learn any Of this stuff right so I was like the Best teachers are out there on YouTube And so I wanted to contribute to that Um but you have to make content that Especially if you want to have longevity You have to love the thing right so back To like making money the first top 10 Typical might normally feel like the top 10 videos that we do on YouTube right We've done Robert a whole bunch of times Um the first we did was Kanye West And I guess irrelevant Kanye now all Over the news again but uh it was the Top 10 rules for Success from Kanye And there's a story in there for example Um John Legend you know John Legend yeah He he comes off as like the nicest human Of all time I don't know John but he Like seems to be very humble him and Kanye are friends which already feels Weird like ironic how does that happen Right uh and maybe not Kanye now but I

Think Kanye like five years ago or 10 Years ago uh but John Legend his name Isn't John Legend His his name is John Stevens oh I didn't Know that his actual name was John Stevens and when he's at the beginning Of his career He's at a bar in Chicago with Kanye and He says I feel John Stevens says I feel Like I'm in a different era like I don't Belong in this era I'm I'm for like the Sinatra era and Kanye says you should Call yourself the legend Oh wow oh wow and that's how it was and John Stevens says I can't do that like I'm just getting start I'm going to call Myself the legend from the beginning I Can't do that and Kanye helped him Believe in himself to call himself John Legend and that became his name so even If you hate Kanye yeah whatever he did Something you know do you believe in Your friends as much as Kanye believed In John John Right and so those are the stories I Love to tell But if I if I did top 10 stupidest Things Kanye West has ever said or done That video would get like 50 times as Many views as the rules for Success it's The perfect clip for you right but I Don't I don't feel good doing that like I would burn out so like to the question Of do you do things for money or for the

You know the service of the purpose I want to make money but inside my Purpose because if I kept making those Kinds of videos I would I would start to Hate what I'm doing what you're doing And then I would quit yeah so like I've I started 2009 on YouTube and we haven't Missed an upload in like over a decade Yeah you're probably consistent well Because I like I love the work like I Love the process right like this is fun This isn't yeah it's like I get the Camera It's great yeah it's fun you get to Inspire other people and it's like the Actual work is fun where if you Think of it as going to a job or you're Thinking of it just as trying to make Money so that you can pay for X then You'll you're going to quit at some Point because it's not fulfilling enough And so now that we've talked about like Just the overall you know Characteristics building a team and the Life of an entrepreneur I kind of want To go into like this last part of just Like the interview and talk about YouTube YouTube is such an important Space you've clearly dominated it you Have I'd say the recipe for form the the Formula for you know success on YouTube And it's funny because even starting out When I was an intern here I would study Everything you were doing so like the

Thumbnails the titles everything and Implemented it so so clearly if we Reached a level of success it's because Of you know all your tips and everything Um and I just want your opinion I know You're big in the space would you say That it's important for every Entrepreneur to be on YouTube or or Maybe it's not necessary So I think if you want to build a big Brand then you have to okay YouTube is The is the education platform now you Know again it's changed a lot over the Past 10 years it didn't used to be that Way you if you want to be a real estate Uh you know you're a mortgage broker do You need to be on YouTube huh maybe Maybe not yeah local business mostly Referral based but you're not going to Scale So if you're going to scale then you Need marketing and if you're in Marketing the best marketing is YouTube Right now because the content you make Lives forever yeah and so If you want to build a big organization You have a big mission you want to serve America you want to serve the world That's your goal then you have to be on YouTube you're not going to do it just Through referrals and thinking locally If you are just small and local you can Still use YouTube to hack your business Growth yeah so for example that local

Mortgage broker It's all relationships it's how you're Going to build your business uh so what You could do is you launch your own YouTube Interview show and use something Like this yeah and you think about who Are the people who can recommend clients To me And then you do a show interviewing them Because They're not going to want to just go and Meet you for coffee they're not going to Want to go and just hear your pitch for Why you should partner together but They'll come on your show for an hour And talk to you again throw something Out of it too yeah yeah and then they'll Be like oh you do that oh cool I can Probably give you some business because You built a relationship so even at the Video you still posted to YouTube Doesn't have to do anything it doesn't Have to take off the point of creating That video is to create the relationship With the people so I'm actually a big Fan of starting I call it a Biz Dev show Okay so start a Biz Dev show for Whatever business you're in because so Many people quit on YouTube because They're not it takes it's the hardest Platform to grow because the content Lives forever so you're up against a lot More competition but the videos that you Make now in a year two years five years

Are still generating leads income Subscribers sales for you but it's hard To think on Five-Year Windows right it's Like I'm spending time I need to make Money I need to grow my business so the Easiest way to start is not thought Leadership content which should be here That eight ways to save money this year Or whatever right those will take Forever to get going and you you at the Beginning of your journey probably suck At talking to camera so it's a skill set That needs to be developed and then we Make a video we look at we look back at Oh my God I thought I suck but I'm like Way worse than I thought it was going to Be too that's I can't put this up it's Embarrassing and so we stop right most People don't go through that phase they Don't have the patience so the way that Started is the biz Dev show so what I Love when I'm talking to people is like What do you sell when they come to me And they ask how do I get started on YouTube okay before we talk about that What do you sell yeah what are we trying To say cell and then let's create a show Where you're talking to people who could Be either ideal clients for you or ideal Partners for you so that regardless of How well the video does because it's not Going to do well at the beginning Because you're just starting your Channel and you suck as a host because

You're just getting started right again None of this means you suck as a human You solve the skills the first thing All your money is like the perfect Example of that where I was literally Called Latina bot because it's I could Not function in front of the camera like So that the first initial steps of Hosting definitely don't judge yourself Based off of that well and like expect To suck just expect to suck it's like You're learning how to snowboard you're Not just going to get up and go down the Hill you're going to fall a thousand Times on the way it's fine right but we Think because I suck at the skill Therefore I suck as a human and so I'm Not going to do it like not like any Skill you practice it you get better Yeah so most people don't want to put in That work because they also need to get Money coming in so if you do a Biz Dev Show think about how many people would Refer ideally not just clients but Partners That if they're sitting with you and They were thinking about you every week Because they had this show yeah how much More business does that lead to for you So you could build a seven figure Business off of 100 subscribers on your YouTube channel because of building the Relationships No and and so

Yes it's very important for every Entrepreneur to well can be very Important for every entrepreneur to be On YouTube right And I'm almost wondering do you it might Be a little intimidating for anyone Who's watching this wanting to start Their YouTube channel right because you Know I was reading there's already like 51 million YouTube channels so I mean Yes there's a niche for everything but Do you think it's too much competition At this point because I know you got you Got into it what the age of 20 uh 2009 So I was 29. okay so maybe in like an Unfair Advantage there like where oh Yeah yeah I mean yeah if you've been Around something for long of course you Have an unfair Advantage but the thing Is YouTube has also evolved and changed Right I'm making these thought Leadership long form six minute videos And people say I'm crazy yeah right so It's more recent that it's become an Education platform I think the thing to Look at is if if you want if you want to Build a big company a Big Brand you want To you want to be the the face for blank For America yeah then you have to be on YouTube for sure you have to be on every Platform but you have to be on YouTube Or you don't accomplish your mission Like there's no way you're going to do That

So that's easy it's the it's the Beginner ones where I may not want to Have a national brand I may not want to Be known around the world but I'm trying To build my local little business then It's how does YouTube compare to other Marketing strategies where for most Businesses again networking is the way To get your first clients and to get Repeat clients and you need to get Referrals if you don't have referrals You don't have a business especially the Early stages of your company it's like How do you start talking to people so That they like you know you I want to do Referrals So what are your options you can go to Networking events you can maybe maybe Your mom is super connected somewhere And does opens doors for you right That's a better strategy but like I knew Nobody I went to the bank to start my First business right I walked in it's Like hey I'm here I got my first Business how can you help me he's like Well do you need a loan like I don't Know Your bank you're supposed to help me Right it's like no we give loans this is How little I knew right I'm 19 I walk in I thought they were going to help me Build my business right that's not how It works so what's the best way to start Building a network well if you have an

Interview show it's so much easier for People to say yes now you're not going After like the rock he's not going to Come on your show but if you're a local Scottsdale real estate you know or Mortgage broker and you're trying to Connect with real estate lawyers who's Talking to Scottsdale real estate Lawyers yeah nobody like it's the first Interview they've ever done in their Life you want to talk to me about real Estate law okay cool it's like it's an Honor they're they're going handling Their husbands their wives like hey I'm On this show and you built this Relationship so it's just the easiest Way and I'm open if you find a better Way to do it to build relationship with People awesome but networking events can Work your personal contacts can work but If you don't have any personal Connections host seen an interview show Is in my view the easiest way to start Building relationships that then leads To a six seven figure business Without having tons of subscribers yeah The goal at the beginning isn't I need a Million subscribers the goal is I need a Million dollars or whatever you're Whatever you're trying to build up for Your company uh And for anyone Their YouTube channel Three tips I would recommend for them

Because I'm you know maybe it's something that Still applies and you'll share with us But I know I focused on like the Thumbnails titles and your foreign Format for everything okay so the the The most important thing is that you Love the videos that you're making okay Because if it feels like work you're Gonna you're just gonna quit just like Anything else right so if you're going To be doing interview shows like Actually love the person you have coming On right you know hopefully you like me Hopefully I haven't guessed those views But I hate this guy yeah it was really Exciting because if you hated Interviewing people like you're gonna Quit it's just so you have to love the Thing you're doing cool assuming you did That inside of that then tactics for YouTube there's four main things that we Always look at for channels yes for Three so you know do the do the bonus Um the first is the frequency so how Often are you making videos right if You're if you if you're just getting Started you have to go at least once a Week right if or you're not consistent You have to go at least once a week That's your entry point in unless you're Making epic like Star Wars trailer crazy Stuff once a week because imagine you're Trying to practice a skill how are you

Gonna get good at a skill even if you're Just doing it once a week you're just Gonna take so long that good at the Skill where with Steve when I started Practicing it was three times a day I Was making content to try to help right That's how I got better without being Very good at the beginning so at least Once a week if you're out once a week Then three times a week and if you have Three times a week the goal is to go Daily daily is soft and scary for people At the beginning so like don't worry About being a pro yet just get once a Week get some content going up so the First is frequency Uh the second is length If you're teaching go longer It's either super short like shorts now You know shorts and and those shorts 60 Second vocal videos you can also take The Instagram reels and Facebook reels And Tick Tock and Twitter if it's under 45 seconds Um but shorts really work or long So long is how long is long well at Least 10 minutes but the biggest growth We're seeing is in the one to three hour Category oh wow yeah because people are Going to learn how did Rogan blow up Four hour long interviews deep Dives Yeah right because typically in a in a Short interview the questions are the Same as the other interviews and it's

All the same stories but in the long run If you get that you dive deeper into Somebody's story so One to three hours and like oh my God How do I talk for one to three hours Well don't do it alone right like do an Interview you just keep asking questions And then they keep talking and because He's going or you do a coaching session Right like if you're doing something to Talk to Tom about like if he's doing Coaching for people uh on how to fix Their finances great don't just teach me The eight ways to fix it I find it bring Somebody on and then you coach them and If you're an expert at what you do Tom can go for hours it just help help Help help help and that that could Become great content for people to watch So people are going to learn right so Long content so how frequent at least Once a week and then go long at least 10 Minutes but if you can hit an hour to Three hours like that's awesome Um the next is going to be your Click-through rate which would be a Function of your thumbnail and your Title so you can have a great video but If people are not clicking on it they're Not going to go and watch the video Right cash flow right like if this is Just a box yeah we're not going to open The box even though it's like great Content inside here right I remember

Playing the cash flow quadrant when I Was 16 I don't know is the skin turned Around for a long time Um but it's a nice box right it's Interesting it makes you want a book It's interesting makes me want to open It right so your your thumbnail is about 70 of it and the title is about 30 of it There it has to be called something Great right if if if we label this Interview interview number 302 and it's Just a picture of the chair or something Like people aren't going to click on it As much even though it's hopefully a Great interview right Um so click through it really matters And the good thing with YouTube is you Can always update that the video you Made three years ago oh yeah go update It yeah it's still it's still relevant Like you you're not gonna nobody cares About your Instagram a week ago but your YouTube video from five years ago can Still be getting your views as long as The content is still relevant right so Go update it and they can start to take Off again Um and then the last one is the hardest One which is the first minute retention So people will watch three hours but you Have to hold their attention in the First minute so the first minute really Really really really really matters and

Most people that's where they lose People's in that first minute so assume That they have no idea who you are I Have no idea who Rich that is I have no Idea who Alexander is annoyed to who Evan is I have no idea who these people Are because that's who we're trying to Target if you're targeting people who Already know you we're talking to a Smaller audience we're talking to the World you know I'm sure you want to Reach eight billion people like Robert The mission we got to teach the world About this world so you know me I want To reach the world I have three and a Half million subscribers like that's Nothing So I assume that they have no idea who I Am right so assume they don't know who You are so How most people will start a video is be Like hey guys welcome back it's me Evan Great like welcome back I don't even Know who you are yeah what am I being Welcome back to right so the first Minute really really matters and YouTube Will show you the audience retention Curve which shows you like second by Second where people are falling off and The the best is a minute you're hitting 70 percent And that's hard and like nobody hits it Consistently but that becomes the goal So if you look at the intros

What did you try different this time you Know are you doing uh you lead with a Question do you lead with with coming up So preview what's coming do you leave With your own thoughts of what how like What are we playing with at the Beginning so that we can keep people for A minute because you can keep them for a Minute you can usually keep them for Those not everybody but it's like the Slow drop off over the next 10 minutes Hour three hours whatever it's that First minute that really really really Really matters Um so yeah so what did I say I said uh Frequency yeah at least once a week Right the length you know so either Super short under a minute or 10 minutes Plus if I did the other one to three Hours the click-through rate where we're Fixing our thumbnails and titles uh and Then the first minute retention trying To aim for 70. just curious what would You consider a good average The Click Through So that is a great question Um there's no simple answer because A click-through rate you know my best Video has like a 1.9 click-through rate Oh wow Why because it's being spread to a whole Bunch of new people So if it's going to new people it'll Have a lower click-through rate

If it's going just to your hardcore if It's going to your mom you're gonna get 100 click-through rate yeah Rate So here's what happens when you launch a Video if it has a high click-through Rate on your thumbnail Uh YouTube then promotes it to more People okay which then lowers the click Through rate So the key is looking at a relative Click-through rate so not an absolute Which is like what's a good Click-through rate well that doesn't Exist but what you want to look at is by Impressions so if you look at you know What we'll do how we do our a b testing Is you lump all the videos that got 10 Million impressions in the past month Okay and Impressions means YouTube is Trying to show the video but you didn't Necessarily get a click they just showed The video so these are popular videos Right now and let's say there's 10 Videos in there we'll take the bottom Half by click-through rate So you know the it might range from two Percent to eight percent click-through Rate so in that category an eight Percent is really good and two percent Is really bad so anything in the bottom Half we're split testing but we're Comparing Apples to Apples because my Number one video has a 1.9 click-through

Rate you would think that sucks but I Expect and if you look at anybody's Channel the number one videos always Have almost always have like the lowest Click-through rate on a channel because It's reaching new people so when you're A b testing you have to also watch out For not just improving the click-through Rate but that you're actually getting More views Because in about 20 percent of tests you'll see that you Raise the click-through rate but you Have lower views or the opposite you Lower the click-through rate but you Have more views okay so they go it lost Because it no no actually won Okay okay because in it it was a better Thumbnail that started to raise a Click-through rate that then YouTube Promoted to more people and then it Lowered your click-through rate okay but What do you care about you care about Views views not the click-through rate Right the click-through will help you Get hopefully more views right so in About you know 20 of those cases you'll See that that happens so thank you yeah I think that was actually is that too Technical no actually awesome because It's like we're running a B test right Now so I was more of like a personal Question where I was generally curious Because yeah some of them you know get a

Lower click-through rate but then They're the number one video so it was Just confusing us to how to dictate that Level of success I mean you're going Hardcore at it which is great for Anybody who's just kind of getting Started that the best thing to do and Save this partner video come back to it Or show you show your marketing create Video in person or whatever but go and Look at your past 90 days of data and Then sort by Impressions so these are Videos that in the past 90 days YouTube's trying to promote okay so We're not trying to save some old video That has no views right but in those Past 90 days you'll see some videos that Might be five years old that are still Getting a lot of Impressions and then You look at the relative click-through Rate so find videos with similar Impressions and then look at if one Video had 10 million impressions another Video had 10 million impressions one Video had four percent click-through Rate the other had two yeah well you Have to go fix that too because at 10 Impressions you can get four percent so This two one should be doubled so you Have to fix it like objectively there's Something off with this video you have To fix a thumbnail and or title okay Um and then you just keep repeating I Love that because it's that's what's

Happening right now on the channel Right like these are videos that YouTube's trying to show right now and If you just fix the click-through rate Most people are so focused on new videos New series what am I launching but most Of the gold is actually in the library Of fixing the videos that YouTube is Trying to promote right now but because Your cover sucks they're not getting the Views right like this game I would test If this was a I would say Robert's face I would test a real rat I would test Like a rat Drive in a Ferrari I would Like you test all it's harder to do in An actual product physical product but YouTube like you can keep testing these Things all the time and you'll find that One combination just crushes the other Ones that for me is like my favorite Hack because it's like just one simple Image and like a b testing it you you Know you can get even more views like Like you said double your click-through Rate so I think that's like a piece of Gold when it comes to YouTube so thank You and Evan now we're you know Finalizing this Millennium money episode Do you have any words of advice for our Audience Um the the biggest thing is believe Right so believe more in yourself Believe that you're capable believe that For someone like you it's possible and

If you got any energy from this move You're watching this you made it this Far like you hopefully you found some Value here to surround yourself more With it like you may never meet Alex and If you do say hi take a selfie yeah She's very friendly right but you may Never meet her but you can learn from Her Through all the content and there's so Many videos on this channel and other Channels you can go and learn from and People often say well I you know social Media is such a waste of time and they Look at Instagram they look at YouTube And like four hours go by they haven't Done anything that's not for me like I Love it I get tons of inspiration and Wisdom from my social media it's all About who you're following so if you've Got a lot of wisdom and energy and ideas From here cool like subscribe to this Channel it's a great Channel watch more Videos and stop watching stupid things That make you feel worse about yourself And watch more education because it's The education that's going to help you Change where you are from one year from Now so yeah thank you Evan and and Honestly like you said it was like Filming these videos can be Uncomfortable you know but but being Able to learn from guests like you is What truly like motivates me too because

You're inspiring other people but you Learn so much from them and so you know My biggest takeaway too from all this is Definitely progress over Perfection and Consistent action so I just want to Thank you so much Much Heaven for Everything you do for inspiring like This world of Entrepreneurship thanks For having me thank you and hopefully We'll see you in another Millennium Money event let's go if you guys enjoyed This interview with Evan Carmichael you Cannot miss the interview we did with Kim Kiyosaki where she teaches you how To become an entrepreneur the steps to Build your business and how to overcome Any obstacles you might be facing I'll See you guys in this next interview do Not miss it your business treat your Money also as a business so you've got Your business your business is making Money well then treat the money part Your income your expenses your assets Your life treat that as a business Because it is [Music]

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