Good evening everyone.
Thank you for joining me on this episode of Empire Builder.
First I wanted to start out with saying happy Labor Day to everybody, and the topic for
tonight since it's Labor Day is 10,000 hours or not.
You know think back to - we've all been challenged in our life at one point or another where
people are trying to decide and categorize you on what you can really accomplish.
Good evening Corey, thankyou for watching, and and we've all been there where we let
other peoples opinions of us dictate what we really become, what we think of ourselves.
So have you ever been in this situation where you've been challenged or insulted, and you
know I think back to it's happened numerous times in my life where people have questioned
what I'm doin, how I'm doing it, whether you're a child, a teenager, or an adult.
But I go back to a point in eighth grade for me when basketball is a big part of my life
I think most of you know that by now an the end of eighth grade they came out with the
New York City rankings of all the kids going into high school and what they expected in
basketball.
And I thought pretty highly of myself.
You know, I was a comforting kid.
I knew I need to get better at things and I was kind of small but I knew I had some
skills and going to the right situation, the right high school I would get better but,
when the report came out I was listed at the very bottom of the page in the newspaper.
I mean last line as sleeper.
I was called a sleeper.
Nothing bothered me more.
I read the news paper.
I stuck it with some tape on the wall and I looked at it every single day and then when
I did between eighth grade and ninth grade as I practiced on average probably eight hours
a day I was at the park all the time.
I was playing in leagues.
I was traveling to different gyms, traveling to camps, when coaches were talking I was
making sure I was always next to them to learn and listen about things and learn different
ways to do things you know, and that's the way to surround yourself with great people
but not just be next to them right.
You have to listen and learn and pick up on their ways of doing things and then build
it into your own life.
So you know I appreciate everybody watching tonight.
Jamal thank you for watching.
I appreciate it.
And you know we talk about grinding and working and so forth and you know there's so many
things that come up so many messages I receive, and by the way please share this out.
I really appreciate your e-mails and your messages about things and questions for future
things.
But what better day to talk about the 10,000 hour rule or not.
On Labor Day and Labor Day is a day where you sit back you have to be thankful for the
work that we have because it provides for our family.
Not only does it do that it's built so many great relationships and so many promising
you know experiences where you're giving and helping others.
And you know we've been very blessed with that.
So it's a day to really feel a great amount of gratitude towards work and what it provides
for our family and for other families.
So it's a really appreciative day for us.
Thank you Erick, I Appreciate you watching tonight.
So I want to talk about tonight why I disagree with the 10,000 our rule.
You know and for years I believed about the 10,000 hour rule was put in the hours.
Grind it out.
The more you do the better you will get at it and that's what will happen.
Well I'm going to tell you I don't know if it's because I'm getting older I don't have
too many 10,000 hour protocols left in me.
But you know I really look back at all the records that are being broken.
OK.
In finance, industry, Amazon, Google, Apple, look at all the changes that are happening
right now.
They are outpacing all of these successful companies.
They haven't put in the hours of the companies that they are putting out of business.
It has nothing to do with that.
Now I'm not saying they don't work hard.
OK.
They all work hard.
They have great people in place.
But what they do is they are looking for where they can make a difference in an industry,
set themselves apart, and then they are focusing on that and that's what they're going after.
So they're not trying to do the same exact thing and just out work those companies that
have been in existence for 40 or 50 years because what's going to happen they're not
going to get there.
And that's the most important part of looking at things that the 10,000 hour rule just says
keep grinding, keep doing the same thing over and over and you'll get better at it.
You will get better at the same amount of talent that you have and the experience you've
gained.
OK.
That does not mean that you are going to become an MBA or a PGA golfer if you keep doing the
same thing over and over.
We know what they mean by what they talk about the definition of insanity just doing the
same thing over and over.
You know I invested in real estate for a number of years I've done numerous transactions and
I've learned a ton from them.
OK.
I didn't do the same thing over and over because sometimes it worked and sometimes it didn't.
You know but it's brought me to this place now where I am looking at real estate in a
very different mindset than I did 10, 15, years ago when I started the company, right.
So you have to keep getting better at things.
And if I kept just doing the 10,000 our role I would have kept grinding out single family
homes, condos, small things that were eating up my time.
I need to budget my time.
I needed to pay myself, right.
And I think that's what most of the time people don't factor in when it comes to real estate.
Oh it's a good investment.
Well it's a good investment because you're handling it yourself and that's fine if you
could do that right if that's your main job.
But if this is your secondary job or your retirement savings that you're putting into
place like I did I didn't have the time to do the medical practice and actually go and
fix toilets and drywall and sheet rock.
Right.
I did it in the beginning.
We painted Terri and I at nighttime and stuff.
That's what you do.
But you have to get over that point and start saying that.
How much are the hours worth and do I want to do 10,000 hours of being a painter.
I do not.
I'm not good at it.
OK.
Do I do it.
Yes.
So Jason thank you for watching tonight appreciate it.
Frances appreciate it.
Please share this out and I said in the beginning you know we're talking tonight about the 10,000
hour rule and why I don't believe in it.
You know part of it is because that my hours are getting a little bit shorter these days.
But you know we talked a little bit about great records getting broken.
You know the stock market, businesses are changing and they're not outworking other
ones you know.
So let's talk about how do you get this done.
Well it's about practicing Don't get me wrong you still need to work your butt off.
You don't get anywhere without working your butt off and that's why we're talking about
this on Labor Day.
I think this is a great topic to start off the fall for me.
We have a lot of exciting things that I'm working on and planning to visit a lot of
great people so - but focused practice is the most important thing to me.
And there's numerous articles starting to come out about this in a counter position
to the 10,000 our role.
Right.
So it's about fine tuning what you're doing.
It's almost breaking it down okay and being almost a little OCD on the techniques and
the details.
You cannot sweat the details in business.
OK.
Every detail matters.
I don't care if you're in a Small business retail.
I don't care if you're in medical, I don't care if you're in real estate, every detail
matters.
If you want to keep your apartment buildings full so that you don't have people leaving
and you have apartments not generating you any revenue.
OK.
The details matter.
If you're trying to sell products.
Jeremy I see you're on tonight thank you for watching.
You're trying to sell products right.
You need to pay attention to the details because that client in front of you needs to have
all of their questions answered and be confident in your ability.
So you gotta set yourself apart and you need to focus on the details when you practice
not just go out there and do the same thing go on Facebook, LinkedIn, Instagram, I know
all these other things that I'm still learning about especially through Gianna being 13 and
- you have to be efficient what your time.
And it's not about just going out there bragging and saying I outworked everybody today because
I'm going to tell you that when I effectively follow my schedule I'm probably two to three
times more efficient than I used to be five or seven years ago.
And that's what allows me to have days where I could go and do things with the kids today
and play some golf and go in the pool a little bit and have time with them.
So really important about building your life in your business.
It's about efficiency and it's hard.
Don't get me wrong.
I mean I have challenges everyday.
We all do right.
We're all fighting it where we put something in our schedule going to the gym right.
Going to yoga or whatever you do meditation you've got to put it in there but then part
of it is writing it in there and you do your weekly schedule but then you have to act on
it and you have to execute and you have to make it a habit.
The only way to make it a habit is to continuously perform that act and make it part of your
daily ritual.
Right.
So Nick, James, thank you for watching.
Tonight Happy Labor Day.
And you know we were just talking about the 10,000 hour rule very famous thing that we
were probably brought up on and why I'm kind of throwing it by the wayside.
Not really going by it anymore.
So you know I read a book by a great entrepreneur.
He called it the five hour rule, a little part that he put together and his recommendation
was one hour a day for five days FOCUSED.
OK.
Now here's what I mean by focused I mean lock the door, put a sign on it at the office.
Don't answer it unless the buildings burning down.
Okay.
Because we all know.
Hi Terri how are you.
And I'm sure that's probably AJ and Giana.
So thank you for watching.
You need to lock the door sometimes so you could work on things in small very small short
increments.
Whether it's 30 minutes for you forty five or six and that depends on you.
For me it's like 30 to 45 and then I need a break reset and go on to the next task.
But the biggest thing is -don't have your phone near you.
OK.
Because we all know the phone vibrate, someone calls, the intercom pages you at the office,
there's a call coming in for you.
You got to put the Do Not Disturb on.
Okay.
It's okay to tell people I don't have time right now for you.
Our door is always open.
OK.
And I know that sounds counterproductive but I need to get things done for the business
and if I don't get those things done at certain times well I'm letting everybody down.
So it's my job to let them know when I can meet with them.
And you have to put your schedule together because I could tell you that you know the
first three four five hours of the day is usually me training in some capacity on what
I'm trying to learn or and then certain tasks that I'm doing whether I'm writing articles
or working on projects for our clients and those are the things that you need to focus
on.
I'm going to tell you in 45 minutes intense focused on something and learning the proper
skills on how to do it.
Always tweaking it.
Breaking it down and I know it sounds OCD.
But that's what's going to get you to the next level.
OK.
Doing the same thing over and over is not going to get you there.
It's going to get you better.
OK.
It's going to get you better at that level.
But everybody out there once more.
OK.
And I know everybody I've connected to wants more.
Right.
So how do we do that.
We have to keep breaking things down.
Learning and fine tuning and then putting them back together you know.
So Laura, thank you for watching.
I appreciate your time.
Please share this out you guys if you're watching and you know I just want to end on one other
point about the 10,000 hour rule.
That the 10,000 hour rules about Mass.
Well we need to be about quality not quantity.
OK.
And that's really how you take things to the next level.
And the way to do that is to how you set your goals, short term, long term goals.
But I'm going to tell you where I got off the track a little bit in the last couple
years - I started to change my goals in the beginning, John and I always talked about
building a great practice for our patients and our work family.
We never thought about how much we were going to make.
And I know it sounds crazy right.
But by doing that we just wanted to be the best, we want to be the best in the world
at what we do in our area.
OK.
And the way to do that is is to just provide and give and listen to people and get the
answers and if you don't know the answer is point them in the right direction.
OK.
And that's how you set yourself apart.
That's how you grow your business.
That's how you grow your Empire and that's why I have different companies now that we
could do, we just keep trying to provide for people out there.
It's just listening to them.
They have a need.
We have to deliver for them right.
And if we can't deliver we could partner up with someone else that could help them.
Right.
And that's what it really is about when you're setting goals for yourself.
Do not sit there- and I got stuck on this for a while because I got caught up in things
and so forth.
Then you're sitting down you start writing like dollar amounts and this and that and
I'm going to tell you that it doesn't work for me.
It might work for you but most of the people I'm talking about and talking to these days
it's about something bigger and that all comes on the back end.
OK.
The finance, the money, it will fall into place.
I'm going to tell you you have to be patient.
I mean I know you guys know our story.
Three years, four years.
It was.
I mean we had months where we didn't pay ourselves in the beginning.
Those things are going to happen right so you need to be patient.
Keep working in a fine tuned manner and deliberate practice.
Keep breaking it down and try to build it back up to get you to the next level and not
just do the same thing over and over.
So good evening Nick.
Thank you for watching.
I Appreciate your time.
So again thank you everybody for watching.
I really appreciate this and all of your messages to us and me I'm going to try to incorporate
more of those things and bring on some guests in the fall.
My team has been helping me.
We can really provide you some value outside of our area/in my area.
But I want you guys to have a great Labor Day and hopefully you spend the night with
your family.
Enjoy your time go build your empire.
Make it a great one.
Thank you very much.
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