The 2 Things You Need for Success | Jay Samit on Impact Theoryhttps://www.youtube.com/watch?v=SaIkelDUDic
This episode is sponsored by Blinkist. Go to https://blinkist.com/impacttheory Try it FREE for 7 days and save 25% off your new subscription. Imagine being disadvantaged, on welfare, no support from family, being young and becoming a millionaire in under one year. Where do you even begin? What does it take to make that kind of change in your life? In this episode, Jay Samit reveals his latest book, Future Proofing You, and the experiment he ran with a young kid from the UK. He mentored this kid once a week and watched him go from nearly homeless to millionaire in his experiment to show this is possible for anyone regardless of your resources. In this interview, Jay uncovers his belief that you don’t need degrees, capital and major connections to become a successful millionaire. Starting your business by looking for the void to fill in a very specific area that allows you to be the best in the world with no competition is a possibility that is accessible to you right now. This episode provides a tactical look at what you can do to start crafting the right situation and the right deal structure you need to succeed. Order the new book from Jay Samit: https://www.amazon.com/Future-Proofing-You-Opportunity-Controlling/dp/1119772060/ref=tmm_hrd_swatch_0?_encoding=UTF8&qid=&sr= SHOW NOTES: The Experiment | Jay mentors a disadvantaged person from homeless to millionaire [2:28]
2 Things for Success | Jay shares the two things he believes you’ll need for success [6:11]
Mindset | Jay discusses how education is stifling mindset [8:12]
Competition | Jay explains how to be the best in the world with no competition [10:03]
Fill a Void | Jay shares how Vin created a case study and niched a void [10:57]
Pygmalion effect | How Jay’s case study started with a lie to prove a point [13:38]
Mentors | Jay reveals the importance of mentors in business and how to find them [15:54]
Insight | Why your insight to solve a problem leads to joy [17:26]
Identity | Your identity and company identity must be separate identities [19:35]
Appearance | Jay on why you need to look like your customer [21:20]
Not Knowing | Jay explains the power of knowing what you don’t know [23:23]
1st Customer | Jay shares tip for getting your first customer [24:32]
The Right Client | Jay describes who the client for you is [29:28]
Breaking Plateaus | Jay talks about the hardships and difficulties to push through [31:20]
Revenue Streams | Manage unforeseen stress easier with multiple streams of revenue [32:21]
Deal Structure | Jay explains why a solid foundation can rebuild business [35:38]
Cultivate Purpose | Jay shares that you cultivate purpose when you help others [42:59] QUOTES: “You’re one click away from 7 billion people, so you only have to figure out how to reach them once, and if you can figure out that process you can do it again and again and be what I call future proof” [4:00] “Cause motivation just like a shower doesn’t last forever. You need it again and again” [6:35] “You don’t need capital, you don’t need connections, you don’t need a fancy degree. I’m not saying not to go to college, there’s pros and cons to everything. But you can do it ... [10:03] “Most of us don’t have the experience to know many things in business. Things that might seem counterintuitive: you know, how the world works as opposed to how you were taught it works. And that’s why mentors are so important.” [15:54] “You can create an international successful company remotely and virtually” [23:00] “Sweat equity overcomes intellect 10 out of 10 times.” [26:31] “If there's something new, there’s something hot, the hot thing that the world suddenly pays attention to then any work you do in that space will be magnified.” [28:40] “As you can start aligning what you do to helping others. The greatest joy you’ll ever get is when you help someone else, and the more you're helping others the more you end up helping yourself.” [43:28] “For so many people they think a better life means buying your kids the things that you didn’t have. A better life is teaching you kids the things you didn’t know.” [45:22] FOLLOW JAY SAMIT:
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LinkedIn: https://www.linkedin.com/in/jaysamit/
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