How To Make Your First $100 Million

Do you have aspirations to one day earn $100 million? In this episode, Patrick Bet-David breaks down the necessary skillsets to go from $10 million to $100 million. Go to our sponsor for 10% off your first month of therapy with BetterHelp and get matched with a therapist who will listen and help.

FaceTime or Ask Patrick any questions on

Recommended video:
10 Rules For Making Your First Million:
11 Skills that Millionaires Master:

Subscribe to our channel:

To reach the Valuetainment team, you can email:

There's a big difference in the Strategies and mindset you need to make A hundred thousand dollars versus a Million versus 10 million or 100 million Today we're going to talk about how to Go from that 10 billion dollar Mark 200 Million [Music] In this video I'm assuming you are Already at around 10 million dollar Mark Wanting to get to 100 million dollars Which means you already have thought or Improved in the following areas or else You would have never gone to the 10 Million what I'm going to talk about Afterwards is what it takes to go from The 10 million Mark to 100 million Dollars so what have you already gotten Good at to get to the number that you Are today here's 11 skills of which many Of them you've probably already mastered Number one persuasion number two reading People three sharing the wealth which Means you already kind of have a good Comp structure with sales with bonus With profit sharing to make sure your Best performers stay motivated or else You wouldn't keep those guys number four Leverage number five recruiting number Six Energy Management number seven how To process issues latest time management Nine is how to manage money 10 is how to Be aggressively patient so those things I'm not going to talk about in this

Video here's the other 10 things that we Talked about how to make your first Million one saying yes to almost Everything two figuring out the formulas And doubling down on them three Increasing activity four removing Multiple streams of income mentality Five protect your centers of influence Six leverage building the sales team or The right funnels or contact seven pick One religion and stick to it eight Protect your credit score nine track Your savings and expenses ten Specialized early generalized later now Let's talk about how to go from 10 to 100 million it's very different so Point Number one very confusing you're gonna Get to a point that you have a lot of Time on your hands you're gonna be like Wait a minute why do I have so much time On my hands well that's because you Hired people you got the right C Suites If you're doing 10 million you Officially have been given back maybe 20 30 hours a week I'm doing a call last Week with a few 7c Suite Executives and Won the Coss Pat my company is doing 35 Million a year money's coming in we're Breaking records every month but I have Nothing to do and I don't even know what To do at this point is this one I Celebrate is this one I go golf is this One I relax what do I do now you're There for the first time trust me you're

Going to be confused because people Around you and your family they're gonna Say how's it feel knowing you made it How does it feel known you're already There the same meaning I'm talking about A guy is sitting next to the 35 million Dollar guy says in 2021 I made 10 Million but in 2022 I made 500 000 my Entire business collapsed why do you Think that is so how were you working in 2021 is that was working 60 hours a week Said how are you working in 2020 it says Now 2022 was relaxing enjoying Going to The Country Club my handicap improved That's exactly what happened too often When a person gets to 10 million and Have all the time in their hands rather Than working on the business now Strategies hiring recruiting growth Marketing next campaign next technology Next whatever maybe they get distracted Thinking they're rich boom they're 10 Million very quickly becomes 4 million 3 Million two million so Point number two Is manage and boredom this kind of goes For number one but let me explain to What this means you know they say in Bodybuilding most of the time if anybody Ends up retiring bodybuilding you're a Champion you go through divorce and Sports NBA MLB NFL hey the champion the MVP right after the end of the career They typically get a divorce why your Spouse is used to you being gone eight

Months nine months intense intense Intense you're competing now you come Home now your spouse could be your Competitor typically they say divorces Happen after vacation because you're not Accustomed to spending time with your Wife and kids for a week you come back You choose the enemy all that stuff so Look none of this stuff is anything new When you're bored I mean Benjamin Franklin one time said Idle Hands or the Devils play things when you have too Much time on your hands you got drugs You got alcohol you got partying you got Gambling and you got money and now you Got time and you're working get on your Business oh my God no one's going to Notice what you're picking up on the Side except for your personal life so Just the second point you got to make Sure you fight if you're gonna go from 10 to 100 like you still haven't given Me a strategy first we gotta make sure You don't screw this thing up that You've built up to 10 million to get to 100 million dollars so look this is a Natural transition into our sponsor Today which is better help and what Better help is the largest online Therapy platform in the world they have 25 000 licensed therapists to talk to The reason why we decided to team up With these guys as a Founder as an Entrepreneur as an operator we hate the

Fact that we need to talk to somebody And sometimes you're alone but you need To talk to somebody but you don't want To go into an office with seven other Licensed therapists and you're waiting And when your client sees you and says Oh my god oh what are you doing here I Go to this is your therapist as well You're embarrassed to do that right Because God forbid if somebody catches You doing that this eliminates that Because you have 25 000 licensed Therapists to choose from if one doesn't Work they'll replace it for you at no Cost so look if you're hard charging Entrepreneur you're running you're Making all the decisions you have a Little bit of stress anxiety you feel Lonely like oh my God I don't know what You do I feel overwhelmed join the two Million other people like yourself who Have taken charge of their mental health With an experienced better hop Therapists getting Forward slash valuetainment once again forward slash Valuetainment Point number three is Again a contradiction on how to make Your first million when I said how to Make your first million say yes to Almost everything in this area to go From 10 to 100 million you have to say No to almost everything let me explain To you why yesterday at 11 o'clock at

Night I get a text with some guy talking About there's a fire we got to put out I Got to get you on a call I said uh What's it about he tells me XYZ they Said have you talked to this person yet No how about that person how about this Person up to them come to me last this Is not a 10. he goes to them he says we Scored it all we're good to go whereas Seven years ago I would have said yes Now you have enough firefighters to put Out fire to address issues that you no Longer need because the company needs You to be working on the big that's what The company needs if you're only working On protecting what you build and you're Not playing offense the company is going To get smaller and smaller everybody in The company is hoping you're doing Strategies to take the company to the Next level and to do that you need to Say no to the small things and let your Leadership team handle that and if it's Anything that turns big they gotta come To you you need to focus your time into The big things Point number four is About focus on what areas you need to go Deeper on let me explain to what I mean By this so if you're doing 10 million a Year and you're already at a number like That you have better data you probably Have a tracking record of different Quarters different months different Seasons different days different weeks

Just today we got data that showed us Number one day in America to sell your Home is May 23rd think about that number How do we have that data well because Somebody tracks the data of what is the Best selling date to sell your home Summer town it's kind of like saying When you buy a motorcycle when it's Winter when do you not buy a motorcycle In July when you buy convertible Typically December January because no One wants a convertible if the weather Is cold when you not buy convertible do You see how this thing goes so you now Have data to look at and say okay here's What I'm noticing this customer we can Really focus on these three customers And go deeper with them this director He's been doing a lot she's been doing a Lot I think this person's got what it Takes to be a c-suite let's go deeper Let's invest into her here let's invest In what school do we need to send them To what next course do they need to Learn do they need to go to an executive Program at Wharton Harvard whatever and Maybe they need to get better this is The time to go find out exactly what you Have and say we're going to go deeper in These following areas within the Business okay so Point number five and Six are going to contradict each other So just kind of hang tight number five Is HR there's a big difference between

Running the team with less than 50 Employees you got 13 employees 14 Employees 22 employees maybe even 38 Employees it's still manageable you all Of a sudden go to 100 employees 200 Employees 500 employees now you're National you got offices all over the Place now you have HR issues now you Need to do training on HR now you have All these different challenges you're Facing with HR so this person doesn't Get along with that person this person Doesn't like working with this person There was a follow now that person had a Breakup these two employees dated There's a lot of different things you're Dealing here which means your HR team Has to be a better quality HR team with More experience understanding different Dynamics creating better structures Better guidelines clearer guidelines Benefits all of that needs to be shot Because if you want to recruit better Talent that's what they're going to be Asking you what's your health benefits What's your retirement plan what's this What's that these are the types of Questions that higher quality be people Going to ask when they come to your Company so HR is going to give you some Problems don't make HR an area you don't Pay any attention to so Point number six Here's the contradiction with Point Number five the company's growing in a

Different management style you have to Do to manage 200 employees versus 25. Here's what's going to happen as you Start hiring people with degrees ivy League Harvard I went to Wharton I went To Yale I went to this I went to this They come in and all of a sudden they Say well I propose we do a three-day Work week the other two days they work From home but your culture doesn't fit That it doesn't work with your industry It doesn't work with your culture but You're sitting there in your mind you're Like yeah but this guy went to Harvard Maybe he knows what he's doing and I Don't know what I'm doing you second Guess yourself and then you compromise Your culture when you compromise your Culture now they know you don't stand For anything so now they know there Really has never been a culture in this Company it was all about winging it just Because somebody comes with a fancy Degree with HR it's important that yes Standards may change yes you may have Systems yes you may have certain things But not at the cost of the culture that Got the company to 10 million dollars That didn't happen actually mentally you Did a few things right to get the Company to 10 million don't compromise It just because somebody comes with a Fancy degree Point number seven your Business is slowly becoming a small

Country maybe a village maybe a city Depending on the size meaning there's Different political parties here's what The political parties look like you've Got the Republican Party the Republican Party or the people that have been with You from day one very protective of the Company they take a lot of Pride they're Protective of you and anybody that comes In they're afraid they're gonna hurt the Company right you have to stay generally The Independent to the right a little Bit then you have the Democratic party Which is people that are coming from Fortune 1000 companies Fortune 100 Company Fortune 500 companies with fancy Degrees Harvard Yale Wharton well you Know so here's what we need to do if We're really going to make this work we Have to start doing this and these guys Are like no we're not doing that listen My hand's been clean I don't even touch Paper anymore here's what I do that's Not the culture we have we have startup Mentality you're out of your mind in This moment when I went through it first Time I screwed it up let me tell you What I did the second time second time Around I brought a consultant in and I Said look I need your help she came in Here's what we're going through as a Company I need you to go interview you Everybody tell me what questions you're Going to be asking go interview them and

Let's do meeting with me being in there Don't tell me who gave what answers but Let's go through it no problem she went In okay and she stayed with us still Today by the way this lady's been doing Business with us for nearly seven years She went in She interviewed everybody With different questions and it came Back here's what people are worried About here's what people fear here's What people this and I'm sitting there Like okay I'm listening to okay that's On me that's on me I can't see who would Do that I can see how we need to improve That then all of a sudden everybody felt Safer to speak openly once it was safer And you played the role of the middle Then you can help them come together Because debate becomes safe it's hard to Do you have to do it if you don't do it You will have different Clicks in your Organization and then when lunch comes You'll see seven people all from the Same Department go to lunch six people All from the same philosophy go to lunch We don't have a company you have a bunch Of Divisions in your company so you got To do this early before it's too late Here's the next part this one's tricky You have to pay very close if you bother If you've been through this before you Know exactly what I'm talking about You're going to have former disgruntled Employees you just are how do people be

Become disgruntled employees very simple You fired them they left you they had Equity they came in and they quit three Years before the company sold they came In and they decided to leave because They didn't think the company was going To be big and the company blew up and Missed out they're not happy about it You think they are there was a book Written I want to say in 1985 or Something like that called The Accidental millionaire do you know what The whole book is about the whole book Talks trash about Steve Jobs and Steve Wozniak do you know how many 60-minute Shows has been done where former Employees talk trash about how horrible Avid boss Steve Jobs was do you know how Many many you know why because people Love that drama they love it and you're Going to have it so how do you handle it Some of them you can't do nothing about Nothing others you have to learn the art Of letting people go gently and the Bigger you get they're going to be even More Angry the more money you make They're constantly going to be angry Because can you imagine the question They have to be asked for the rest of Their lives here's what the questions Sound like hey wouldn't you like Employee number 28 at Facebook Hey Wouldn't you like at Google at the Beginning you think they like those

Questions it should never happen because If they would have stuck around they Would have been Millionaires and they Left so it's not easy so you have to Figure out a way to work with former Disgruntled employees and try to let go Of them as gently as possible and don't Piss them off even more than you already Have even though you didn't do anything You just grew a company this kind of Goes to a number eight and you'll see Where I'm going with this it's hard to Do but you have to do it let me explain To you what this is there Comes A Time Like for me I was a person all my Friends would pick on the basketball Team because I was tall and big but I Wasn't that good of a basketball player So some of the guys that were smaller Than me I was always on a starting five Lineup when we're playing pickup then All of a sudden I noticed they're not Picking me no more the other guys got Better than and one of our friends who Was very good in basketball he stopped Picking me and that feeling as a 14 year Old was like how come you didn't pick me Was I not good enough I wasn't I just Wasn't the other guys got better than me In basketball in baseball I was still There were picking me up at the top Because that was a good hitter and I Would run I was fast I could cash them All but in basketball I was no longer

Top five trust me I hated it as a kid What does this mean in a company at a Certain point you're gonna have to Upgrade the talent that you currently Have you have one of two choices I Either the people that I've been with You are going to tell you why you need To pay them 50 more but they're the same As they were two years ago you either Have to challenge them to say who they Need to become and if they don't you Have to go hire somebody from a company A startup experience that you don't Currently have and bring them in and Shake it up a little bit those people Don't up their games well guess what They're not ready for the next phase of The company if they do after games now You got two killers going to the next Phase of the company but you cannot sit There trying to please everybody knowing These guys have been kicking back Working a regular schedule because you Allow them you are compromising getting Better quality Talent at a company and The company deserves you to have the Courage to make the tough decision and Upgrade your talent all right Point Number 10 this one's gonna be crazy so Now you're rich you got money you know It you're doing good you got a lot of Things you can lose the house cars the Fame the freedom the VIP table in the Back of the restaurant you go to and

Your waitress Maria treats you royally And you love it but now you could Potentially lose it so what do you do You do what many teams who have a big Lead in the first half of the Super Bowl Or an NBA championship they come out Second half into coach plays scared like The Atlanta Falcons did against Tom Brady they're up 28-3 look oh my God Just let's play safe let's not make any Big risks so you don't throw the ball Anymore to score touchdowns boom and a Guy like Tom Brady comes takes you out You're out of business it doesn't matter How big you are even the biggest Companies have to take risks you got to Take risks you ain't that big you're Only at 10 million so if you hesitate to Take the next level risk at this phase You're gonna pay a price I've taken a Lot of risks maybe on paper didn't make Sense but I had to do it at that season At the company or else we would have Stayed where we were at you also have to Do the same I'm not telling you be Reckless not at all there's levels to Risk I have the time to be a little bit More methodical you have the time to be A little bit more strategic but can you Compromise taking risks you cannot if You want to get 200 million but I got Two bonuses for you two bonus points one Of them is valuation today is all about Being Tech enabled I had a guy that came

In here the other day where Sinai he's Doing 32 million a year good size Business extremely profitable and we sat There for a couple hours and we're Speaking and he says hey you know I've Been stuck at 32 million for the last Two years and I can't move the number Like this what do I do I said so tell me About your team your org chart your Management team your savings your Schedule what are you doing Expansion opportunities ads marketing so We went through all of that right and I Said tell me about your technology uh What do you mean what technology do you Have well I don't know what you're Asking what is your technology how much It is automated well I'm using this and I'm using this okay what can you add Because your goal you want to sell this Company for a billion dollars yes today No one's buying any companies that's not Backed up by great technology Netflix is All about their technology Amazon is Technology Facebook is technology Google Is technology even small companies that Are being bought for high valuation it's Being bought because they have unique Technology so what are you doing to Increase the valuation of the company Because of Technology we invested in our Tech a software called bamboo and we put 10 million dollars into it well that Increased the value of the company not

By 10 million dollars it increased the Value of the company by five times the Investment we put into it like this Within 18 months because it was Tech Enabled I was able to update my leaders Bulletin for competition from once a day 30 000 times a day so if a guy submitted An insurance policy in New York and it Hit the leaders within three seconds Everybody in the country knew that Person New York just wrote a policy I Didn't have that before communication Nearly 10 million messages on this Bamboo from Agents across the country Talking with each other we didn't have That before that created competition That was able to get things quicker Sharing clay I got this client can Somebody go talk to them no problem Messages messages took the company to The next level so if you want to get to 100 to the next marker you have to think About how you can make your company Tech Enabled and the extra point that I have The second extra point that I have is Your network if you grew from 100K your Friends are making 100K you're also Making 100K great but if you want to get 2 million your net work business Network Associates some of them have to be Making a millionaire they're going to Talk to you and you're going to see how They act and think to make a million now You get to a million now if you had a

Million everybody runs you only had a Million you want to get to 10 when you Got to get a couple colics that are Making 10 million you got to upgrade Your network and be around others that Are doing 100 million a year even though You're at 10 million to be like oh my God I'm the smallest guy in the room Here the more you're the smallest guy in The room the more you grow the more You're the biggest guy in the room the Less you grow very simple if you always Want to feel like you're the most Powerful guy in the room keep doing that If you want to keep growing always be The smallest Scandal somehow some of you Keep growing and then all of a sudden The competition gets smaller and smaller And smaller but stronger and stronger And stronger so you may want to increase Your business networking go hang around With some people or find them and Certain masterminds that can challenge Your mindset that was the extra credit Point number two that we gave so if you Watch it till the end and you're not a 10 million we're like I'm curious Because I think one day I will be no Prom so you got two videos to watch that You haven't seen yet one of them is how To make your first movie if you haven't Seen a watch this the other one is 11 Skills to master as a millionaire if You've now watch that click here to

Watch it either way if you got value From it subscribe to the channel take Care everybody bye-bye Foreign [Music]

Challenge Secrets Masterclass

At Last! The “Funnel Guy” Teams-Up With The “Challenge Guy” For A Once-In-A-Lifetime Masterclass!

The ONE Funnel Every Business Needs, Even If You Suck At Marketing!

Just 60 Minutes A Day, Over The Next 5 Days, Pedro Adao & Russell Brunson Reveal How To Launch, Grow, Or Scale Any Business (Online Or Off) Using A ‘Challenge Funnel’!

Leave a Comment