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3.31.2021

Go with the vendors that flex transparency

I'd argue that your money will be better utilized if you patronize vendors willing to be transparent about their own numbers.

EVERYTIME I WATCH A VIDEO ON YOUTUBE (YES I USE IT TO LISTEN TO MUSIC WITHOUT PAYING$10 DOLLARS A MONTH BECAUSE I’VE DONE THE MATH…IT’S ABOUT $23,000 BY THE TIME IRETIRE), I’M ROYALLY ANNOYED WITH ALL OF THESE SELF MADE GURUS TRYING TOCONVINCE ME TO SELL WIDGETS.

A FEWYEARS AGO, I ONLY HAD TO DEAL WITH MY ROYAL ANCESTORS IN AFRICA WHO LEFT ME 100MILLION DOLLARS. NOW I HAVE ALL OF THEIR DECENDENTS TRYING TO SCREW ME TOO.LOOK – I GET IT. ADVERTISING IS A PART OF BUSINESS SO NO MATTER HOW MANY PEOPLECOMPLAIN, NOTHING WILL EVER CHANGE…GET IT. GOT IT. STILL NOT GOOD.

BUTLET’S BE SERIOUS.

THESEPEOPLE SPENT REAL MONEY TO MARKET THEMSELVES ON YOUTUBE. THEY INTENTIONALLYRECORDED VIDEOS OF UTTER NONSENSE ABOUT SELLING $50,000 A MONTH ON AMAZON.

LET’SJUST PAUSE FOR A MOMENT. THE NEXT PARAGRAPH IS GOING TO BE INCREDIBLY OFFENSIVE.BUT IT’S A PURPOSEFUL VENTING SESSION SINCE I DON’T REVISE ANYTHING I WRITE. SO,IF I GET IT OUT NOW I CAN HAVE A MORE IMPACTFUL ENDING IN THIS POST. SORRY INADVANCE.

DUDE. YOUDID NOT SELL $50,000 A MONTH ON AMAZON. YOU’RE A SCAM ARTIST AND I HOPE YOUSTEP ON A RUSTY NAIL IN A THRID WORLD COUNTRY. YOU WON’T DIE, BUT YOU’LL BEHUMBLED. AND I HOPE THAT INJURY BRINGS YOU TO YOUR KNEES AND YOU RECONSIDERYOUR ACTIONS. YOU’RE SCOTT TUCKER. YOU ENJOY SCREWING OVER HARD-WORKINGAMERICANS. I HATED YOUR VIDEO OF YOU IN YOUR BACKYARD WITH YOUR BEAUTIFUL FRIENDSIN THE POOL BY THE WAY. YOU’RE NOT ALTRUISTIC AT ALL. YOU DON’T WANT ME TO WINAND I CAN PROVE IT. YOU DON’T EVEN KNOW MY NAME. YOU MAKE ME SICK.

OK JUSTNEEDED TO GET THAT OFF MY CHEST. LET’S CONTINUE.

THEY’VEGOT THE BANDS OF MONEY FLYING AROUND. THERE’S PRODUCTS IN THE BACKGROUND. SOMEOF THE FANCY ONES PULL SCREENSHOTS OF THEIR CLIENT SUCCESS STORIES. WE’RE 30SECONDS INTO THE VIDEO NOW. I COULD HAVE SKIPPED AFTER FIVE SECONDS, BUT HEY –I JUST WANTED TO HEAR THEM OUT.

OHSNAP. NOW HE’S WHIPPING OUT HIS YEAR TO DATE SALES ON HIS IPAD. DANG. THIS DUDECLEARED A MILLION DOLLARS IN LESS THAN SIX MONTHS. WOW.

WAIT.IF YOU’RE DOING 50K A MONTH, HOW DID YOU PASS 600K ALREADY? HMM…WEIRD. MAYBE100K A MONTH SOUNDED TOO UNREALISTIC SO THEY PEELED IT BACK. MAYBE THIS IS LIKEAN OVERALL AVERAGE. DOESN’T MATTER. THESE GUYS ARE THE BEST. LET ME JUST LISTENAND STOP THINKING.

AH –THEY’VE INSERTED WARREN BUFFET QUOTE ABOUT INVESTING IN YOUR SELF. WOOSAH. OHBABY – REFERENCED 4 MORE TALKING HEADS LINES ABOUT CARPE DIEM.

HOTDOG, HERE’S THE ASK. THEY WANT ME TO GIVE THEM $2,000 TO GET STARTED ON THEJOURNEY TO FINANCIAL FREEDOM. WHAT IN THE ACTUAL FUDGE IS HAPPENING RIGHT NOW?

 

I KNOW.

I CAN’TSTOP THEM. I CAN’T BEAT THEM. THEY’RE EVERYWHERE. CONNING A NEW PERSON EVERYMINUTE OF THE DAY.

SINCETHE START OF THIS POST, 18 PEOPLE HAVE PROVIDED THESE IMPS THEIR CREDIT CARDNUMBER AND TRULY BELIEVE THEY’RE GOING TO MAKE 7 FIGURES SELLING PRODUCTSONLINE.

NEVERMINDTHE FACT THAT 95% OF SMALL BUSINESSES FAIL WITHIN THE FIRST 2 YEARS. NEVERMINDTHE FACT THAT THE OPERATIONAL EXPENSES ASSOCIATED WITH SELLING ONE SINGLEWIDGET ONLINE IS AN ACTUAL BARRIER TO ENTER THE MARKET. NEVERMIND THE FACT THATMORE CAPITAL WILL OBVIOUSLY BE REQUIRED TO FLIP AN ITEM FOR PROFIT. NEVERMINDTHE FACT THAT COMPETITION IS AND FOREVER BE THE BEDROCK OF COMMERCE. IN THE TWOMINUTE VIDEO, THEY MAKE IT LOOK AS SIMPLE AS MICROWAVING POPCORN. IN ALLACTUALITY, DOING BUSINESS ONLINE IS INSANELY HARD, INCREDIBLY RISKY AND STRESSFULAF.

RIDDLEME THIS. IF YOU WERE MAKING MILLIONS OF DOLLARS SELLING (INSERT RANDOM THINGNOBODY ACTUALLY NEEDS ANYWAYS) TO PEOPLE ONLINE, WOULD YOU STOP DOING IT ANDTELL EVERYONE IN THE WORLD ABOUT IT? PROBABLY NOT, RIGHT? WELL, GIVEN THEBENEFIT OF THE DOUBT – LET’S SAY THEY’RE ACTUALLY CLEARING 7 FIGURES, LIKE HOLYSMOKES – YOU’RE A ROCKSTAR. YOU FOUND A NICHE, HIT IT HARD AND YOU ARE ROLLINGIN THE DOUGH. WHY WOULD YOU GIVE THAT AWAY? I JUST HAVEN’T HEARD STORIES OFCEO’S MAKING MILLIONS OF DOLLARS AND ALL OF A SUDDEN STOPPING TO JUST GIVETHEIR POSITIONS AWAY. I HAVEN’T SEEN ATHLETES AND ENTERTAINERS MAKE IT BIG ANDTHEN JUST STOP PRODUCING CONTENT TO TEACH OTHER PEOPLE HOW TO DO IT. I HAVEN’TSEEN IT. IS IT HAPPENING? SOMEONE PLEASE TAKE MY BLINDERS OFF AND SHOW MEALTRUISM. THE ANSWER LIES IN THE PRICE TAG. 2,000 USD. MY SENSE MAKINGAPPARATUS SUGGESTS THAT THE ONLY REASON THEY WOULD STOP THEIR HUSTLE TO SHARETHEIR “SECRETS” IS 1) THEY WERE LYING ABOUT IT FROM THE JUMP AND/OR 2) IF ITWERE MORE PROFITABLE/VALUABLE TO DO SO. RIGHT? RIGHT. RIDDLE SOLVED.

ALRIGHTROB. EVERYONE IS SHADY. WE ALL WOKE NOW. SO WHAT? GLAD YOU ASKED.

CASE 1– DON’T FALL FOR THOSE GIMMICKS ON YOUTUBE.

 

CASE 2– PARALLEL THIS EXTRACT TO ALL OF THE OTHER VENDORS THAT MAY BE TRYING TO CONYOU.

 

CASE 2IS A LITTLE MORE CHALLENGING BUT IT’S POSSIBLE AND I’VE INCOPORATED IT INTO MYOWN LIFE. I AM A CONSUMER. I HAVE BOTH EARNING POWER AND SPENDING POWER. I HAVECONTROL (MAYBE NOT FULL, BUT SUBSTANTIAL) OVER WHERE MY MONEY IS UTILIZED. ITIS WELL WITHIN MY RIGHT TO MAKE AN EDUCATED DECISION ABOUT WHERE MY DOLLARSWILL GO. IN THE CASE OF ANY SELF IMPROVEMENT EXERCISE, ONE THING THAT WILLENABLE ME TO MAKE A MORE EDUCATED DECISION IS TO SEE TRUE PROOF THAT THESOLUTION THE VENDOR IS POSITIONING ACTUALLY WORKS AND EVIDENCE THAT THEPRACTICIONER HAS UTILIZED THIS SOLUTION PERSONALLY.

 

I KNOW.

RUFFLESALL THE FEATHERS.

GUESSWHAT. I DO NOT CARE.

 

HERE’SMY GEL.

I GETMY HAIRCUT FROM THE SAME BARBERS EVERY WEEK BECAUSE HIS HAIR IS BEAUTIFUL, HEUSES THE PRODUCTS HE PUTS IN MY HAIR AND HE DELIVERS 110% VALUE EVERY SINGLETIME.

MYFITNESS COACH HAS AN 8-PACK, HIS MAX BENCH PRESS IS 2X HIS WEIGHT AND HE RAN ASUB-4 MARATHON TO RAISE MONEY FOR CANCER RESEARCH.

MYSPIRITUAL MENTOR HAS SHOWED ME THE AREAS OF HIS OWN LIFE THAT CULTIVATED THESYLLABUS HE USES TO NAVIGATE ME OUT OF MY DARKNESS. HE’S SHOWN ME THE SCARS,TEASED OUT THE PROCESS AND I CAN TRUST HIM BECAUSE I KNOW WITH CERTAINTY, HE’SBEEN WHERE I AM AND HAS MADE IT TO THE OTHER SIDE.

 

LOOKWHAT I JUST DID.

IPLACED MY TRUST IN A TRANSPARENT RELATIONSHIP.

 

SO,HERE’S WHERE IT GOES DOWN BAD.

USECASE A - SOME ROOKIE BROKER TRIES TO POSITION SOME STUPID MUTUAL FUND OR SOMEBLOATED INSURANCE PRODUCT. I ASK TO SEE TWO THINGS: AUDITED HISTORICALPERFORMANCE OF YOUR OTHER CUSTOMERS AND A REDACTED COPY OF YOUR PERSONALPERFORMANCE WITH THIS PRODUCT. OFTEN, THE FIRST IS EASILY ATTAINABLE. THEYALWAYS HAVE SOME GLOSSY MARKETING COLLATERAL SITTING ON THE SIDE TABLES IN THELOBBIES OF THEIR HUGE OFFICE BUILDINGS. THEY LOVE TO THROW THOSE PRETTYPAMPHLETS AROUND EVERY CHANCE THEY GET (WONDER WHO PAYS FOR ALL THAT BTW). THEFIRST IS EASY. USUALLY, IF YOU LOOK AT IT LONG ENOUGH, YOU’LL FIND THE CATCH.OTHER TIMES, THEY WILL DO SUCH A FINE JOB OF HIDING IT IN THE FINE PRINT THATYOU NEED TO REFER TO NUMBER TWO. MAY I HAVE A REDACTED COPY OF YOUR PERSONALPERFORMANCE WITH THIS PRODUCT? YOU’RE CHAMPIONING YOUR POSITION. ARE YOUWILLING TO SHOW ME A NET WORTH STATEMENT THAT BACKS IT UP? CRICKETS.

AFTERASKING THIS QUESTION SOME 1,100 TIMES, I’VE RECEIVED MY REQUEST ONCE. AND GUESSWHAT? THEY WILL BE MY VENDOR FOR LIFE. I TRUST THEM. I SAW THEY USED THEPRODUCT THEMSELVES. THEY BELIEVED IN IT. THEY WERE A CONSUMER AND SELLER OF THESAME PRODUCT. I CAN GROW WITH A VENDOR LIKE THAT.

THEOTHER 1099 TIMES I’M MET WITH THIS GARBAGE:

“NO WAY– THAT’S CONFIDENTIAL”

“NO. IDON’T ACTUALLY USE THE PRODUCT MYSELF”

“IDON’T EVEN KNOW WHERE I WOULD GET THAT FROM TO SHOW YOU”

“WHY DOYOU NEED THAT”

“CAN’TYOU JUST TAKE MY WORD FOR IT”

 

I NEVERPUSH BACK AT THIS POINT. I’VE LEARNED ENOUGH. WHILE I HAVEN’T QUANTIFIED IT TOTHE DEGREE THAT I’M SATISFIED WITH, I TRULY BELIEVE THIS HAS SAVED ME THOUSANDSOF DOLLARS IN PHANTOM VALUE.

 

I RANTHIS POST BY A TRUSTED ADVISOR. YOU KNOW. JUST TO MAKE SURE IT WASN’T TOOHEAVY.

HE SAID:

“THISIS ABSOLUTELY WAY TOO HEAVY. BUT RUN IT ANYWAY. ROB, JUST MAKE SURE YOU ADD INA NOTE ABOUT SOCIAL GRACES”

FASHOW.

 

HI YOU.STILL READING? GREAT. THIS IS FOR JEFF. THIS IS A NOTE ABOUT SOCIAL GRACES.

 

IS ITSOCIALLY ACCEPTABLE TO ASK SOMEONE THEIR NET WORTH IF THEY’RE TRYING TO SELLYOU SOMETHING THAT THEY SAY CAN IMPROVE YOUR NET WORTH?

ANSWER:NO, IT’S DEFINETELY NOT SOCIALLY ACCEPTABLE. THERE. I SAID IT.

IT’SSOCIALLY UNACCEPTABLE, ALMOST DISGRACEFUL, BUT ABSOLUTELY APPROPRIATE.

 

LET MEJUMP AHEAD WITH THREE QUICK BULLETS BEFORE I BREAK THIS DOWN:

1.PRESIDENTIAL CANDIDATES SHARE THEIR TAX RETURNS WITH THE GENERAL PUBLIC TOBUILD TRUST

2.‘ACCREDITED INVESTOR’ IS AN ACTUAL THING AND YOU HAVE TO PROVE IT BEFORE YOUGET IN

3.PUBLICLY TRADED COMPANIES ARE LEGALLY REQUIRED TO SHARE THEIR FINANCIALS

 

 

 

I THINKIT WOULD BE A BENEFIT TO REDUCE TABOOS ON TALKING ABOUT FINANCIAL INFORMATIONBECAUSE LIKE THEY TAUGHT ME ON READING RAINBOW TWO DECADES AGO, KNOWLEDGE ISPOWER. AND THE TABOOS HELP SUPPORT ASYMMETRICAL KNOWLEDGE.

NOW OFCOURSE VENDORS DON’T WANT YOU TO KNOW THIS.

ROB –STOP. VENDORS SHOULD TELL THEIR PROSPECTIVE CLIENTS HOW MUCH THEY’RE WORTH ANDHOW MUCH THEY’RE GOING TO MAKE OFF THEM? I MEAN COME ON. NO ONE DOES THAT.

RIGHT.WEIRD. EXCEPT, THAT’S KIND OF HOW IT SHOULD HAVE BEEN ALL ALONG.

THERE’SA RATIONAL REASON WHY SHARING THIS INFORMATION MIGHT BE AWKWARD. LET MEACKNOWLEDGE THAT WHAT I’M PRESCRIBING QUICKLY ILLUSTRATES THE DIFFERENCESBETWEEN PEOPLE. IF SOMEONE WORTH $2,000,000 IS SELLING A $2,000 COURSE TOSOMEONE WITH A NET WORTH OF $20,000 IT WILL ILLUMINATE THE VAST DISPARITY INVALUE (SOCIAL AND EQUITABLE). I THINK THAT SETTINGS TEND TO WORK BEST IFEVERYONE ASSUMES EVERYONE IS MORE OR LESS EQUAL.

PERSONALREFLECTION. I’M COMING CLEAN. FOR THE LAST DECADE I HAVE BUILT STEALTH WEALTH.I WORE CLOTHES I PROCURED AT SECOND HAND STORES (TO BE HONEST, I WILL DO THISFOREVER. IT’S AMAZING WHAT YOU CAN FIND IN A GOODWILL ON TUESDAYS), I DROVECARS THAT WERE UGLY. I LIVED IN TINY TOWNHOMES FOR YEARS WHILE MY NET WORTHGREW LIKE A WEED. THE PEOPLE AROUND ME THOUGHT I WAS BROKE. I LIKED IT THATWAY. I WASN’T A TARGET. SOCIALLY, THIS IS FINE AND I RECOMMEND EVERYONE PURSUESTEALTH WEALTH IN YOUR OWN LIFE. BUT, IF YOU’RE A VENDOR, YOU HAVE TO BETRANSPARENT. EVERY PROSPECTIVE CLIENT OF MINE WHO ASKS ME TO SHOW THE DATA, I’MGOING TO SHOW THE DATA.

TRUSTIS BUILT ON TRANSPARENCY, NOT YOUTUBE.

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