Nick Huber: Powerful Sales Trick, Traits Of An Entrepreneur, & When To Sell A Business

Episode 431: Sam Parr (@TheSamParr) and entrepreneur, Nick Huber (@sweatystartup), talk about traits of successful entrepreneurs, a new powerful sales trick, how to run multiple businesses at a time, and more. Want to see more MFM? Subscribe to the MFM YouTube channel here. SHAAN'S NEW DAILY NEWSLETTER --> shaanpuri.com ----- Links: * The 50th Law by 50 Cent & Robert Greene * CopyThat * Sweaty Startup tweet * Sweaty Startup Newsletter * Nick Huber Show podcast * Recruit Jet * Titan Risk * RE Cost Seg * bluekeycapital.com * Shepherd * Bolt Storage Investor Portal * Do you love MFM and want to see Sam and Shaan's smiling faces? Subscribe to our Youtube channel. ------ Show Notes: (02:50) - Nick Intro & How MFM Blew Up His Life (08:35) - Successful entrepreneur traits (31:00) - A powerful sales trick (39:00) - Nick's tweet about SJWs (47:00) - Running multiple businesses at the same time (50:55) - Selling vs Cash-Flowing ----- Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more. ----- Additional episodes you might enjoy: • #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits • #209 Gary Vaynerchuk - Why NFTS Are the Future • #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto * #169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett • ​​​​#218 - Why You Should Take a Think Week Like Bill Gates • Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More • How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More

Speaker names marked ? are inferred from speaking time and the show’s known hosts — they are not voice-verified.

• 0:00Nick Huber?

  If, no if, now this is the theory. This is the big, this is the big part. If you can make other people good at their jobs, not just you good at your job, but if you can lead other people and set them up for success and make other people good at their job, you are the ten Xer. You're the ten Xer.

• 0:24Nick Huber?

  Welcome to my first million. Thanks for joining me, Sam.

• 0:28Sam Parr?

  All right. So Sean is in California. There's a power outage. Last minute, I called Nick Huber. We're going to give you like the proper introduction, but basically you were on a month ago, six weeks ago, and it was One month. I think it was the second most downloaded pod in the last 90 days. It had something like 150 or even more downloads, something like that. So the people loved you. And what was your introduction last time? Nick has at least $100 million in storage units, of which I am an investor in. So I always disclose that. And you also own three or four different companies right now that are doing really well or own part of?

• 1:09Nick Huber?

  Yep, yep. Dabbling in, dabbling in a lot of stuff. You texted me actually one hour and six minutes ago. And you said, hey, can you come on the pod in one hour? And I said, yes. And you said, do you actually have good content? And I said, yes, I'm a content machine. I was just kidding with you. And you said, hey, you need to make a document and send it to me. Are you sure you have the fire?

• 1:32Nick Huber?

  You put the pressure on me.

• 1:36Sam Parr?

  Cause we don't ever, I never ask the same person twice, but I know that you're easy to work with. And I knew you'd show up in time.

• 1:44Nick Huber?

  Well, you blew up, you blew up my life, man. I mean, I looked back. You, you brought me on the show the very first time on November 11th, 2020. And then another time, February 16th, 2023, which was four weeks ago today. And honestly, it blew up my world. I mean, I'm telling you.

• 2:02Sam Parr?

  Really, what are the results?

• 2:04Nick Huber?

  I mean, Support Shepherd, the company that I use to hire a lot of, you know, VAs and I'm a partner in 200 plus leads of people, business owners who reached out for the first time to hire their first VA, which is freaking awesome.

• 2:17Sam Parr?

  And that's like four grand a month or something, or two grand a month?

• 2:20Nick Huber?

  It just costs about three grand. It's 30% of the first year's salary, 35% of the first year's salary to make the placement. So average tickets between three and four grand.

• 2:30Nick Huber?

  All the other businesses too, that I mentioned on there, got some leads. RE Costseg, Webrun.com. It's just crazy, man. Got reached out to by a lot of people and actually have kind of got started with a couple more businesses since then. So it's just been wild.

• 2:46Sam Parr?

  So I like, I went to Vancouver and I was hanging out with some guys that were like worth hundreds of millions and maybe one or two of them in the billionaire range. And we were having dinner and they wouldn't stop talking about that episode and they wouldn't stop talking about you. And they were like, I gotta meet Nick. I introduced you to one of them and Courtney. And, but they wouldn't stop talking about you. And I was like, damn, people love Nick. It's amazing.

• 3:12Nick Huber?

  It's been amazing. I think the, the network effects of that have really impacted my life. And man, I have you to thank in a major way. So really, really, really appreciate it.

• 3:21Sam Parr?

  We were at, I did like a MFM meetup last night. Jonathan organized it and we had 500 people RSVP. I don't know how many people showed up, but it was awesome. We got to like meet people and a lot of people were asking about you and it was really fun to get out from behind the microphone because what people, I always say this, I said this last night, what they don't realize is like Sean and I at least, we talk throughout the week, but we try to save our, if we ever, if we're ever talking about something juicy, he'll just say like, don't, don't tell me, tell me when we're live. And right now I'm just in my, I turned like a small bedroom into a little, it just has his desk and a camera. And you probably, it looks like you're in the same, you have like a small office in your house. And like, they don't realize that like, we're just a bunch of like

• 4:02Sam Parr?

  doofuses behind a mic, just barely, I mean, we prepare, but like, we're just kind of like having a conversation with our friends and it's really cool to like, see the people and like actually hear from them. And so we did that last night. It was exhausting, but I was very happy to do it. And so hopefully you, you've been able to meet some of the people as well.

• 4:19Nick Huber?

  It's crazy because we can sit here and talk and I'm a little bit nervous just because I know the impact of my first million. I know that 100,000 people might listen to this, but imagine how nervous we would be if we were sitting in two chairs in the middle of Dallas Cowboys Stadium with 100,000 people watching. I mean, it would be, it would make it feel a lot more real. It would make it feel a lot more real.

• 4:37Sam Parr?

  We've had so many people say, why don't you guys do it in real life? Like you and Sean? Like, and I'm like, well, it's just more convenient. But also, it's like, one time I recorded at a studio and there was like this like lady at the, at like the soundboard and she was like hip and cool looking and was like a cute lady. And I remember she wouldn't laugh every once in a while. When I thought I said something funny and I got in my head, I was like, shit, I didn't, I didn't, was that douchey? Was that lame? And then everyone, and then when she would laugh, I'd be like, alright, I got her, I got her, I gotta keep going. And so like, she was my audience. And I remember I was like changing everything I did. And afterwards, I was like, Ben, I can't do this with, with any of these people in this room anymore. It's getting in my head. I'm trying to impress them too much.

• 5:18Nick Huber?

  It's tough, man. It's tough. I'm having a live event on the 22nd in Athens, which you guys inspired me to do. I put it together right after that and 30 people have bought tickets to it. So I'm a little bit bummed out, but we're gonna actually go through, it's next Wednesday night in Athens. We're gonna actually have it, see how many people show up and see if it's a success. But yeah, when you put yourself out there for a live event, it comes with a new level of stress and anxiety for sure.

• 5:40Sam Parr?

  So I moved to San Francisco in 2012. I moved out there and I moved out there from Tennessee and I, I'm still a little rough. Back then, I was really rough around the edges. And this was right, uh, yeah, and this, and this was like, basically, I moved out there and like I would wear jeans and like boots and a white t-shirt all the time and people, and I've had a little bit of a twang, you know, and people would kind of tease me and I told them I'm from Tennessee and they're like, you know, what do you date your cousin? Like they would make fun of me and I felt really like jealous of the Stanford kids. I would like, I remember I took a bus or a train out and to walk around Stanford's campus. I felt it was like Goodwill, a Goodwill hunting moment. I was like, dude, am I gonna meet all these geniuses? What's gonna happen? And I got so envious. And so I created this

• 6:24Sam Parr?

  thing called the Anti-MBA because I was envious that I didn't get my MBA from Stanford because I would meet all these kids and they had this like awesome network. And so I created this book club and we would meet once a week. We would read one book a month. And we would meet once a week and go over the trailing like, you know, weeks reading. And then I would call in a guest to like, lead the discussion and I would talk to them. And I posted an ad on Craigslist. That's how I got my first people. And so Siava, one of my best friends, Siava, who's like a big entrepreneur, he was one of those people. You know, he's one of my closest friends. So I met him that way. And so I would host these book groups and it would be 10 people at first. And then the next time, like 12, and then over time, I did this for a year, every week for a year. I got like 3,000 people signed up to my email list.

• 7:08Sam Parr?

  Then I hosted an event that was like, maybe 80 people came. And then I hosted HustleCon and 300 people came. But it was very slow, like these like events, I did them very like, it was like a four year grind. And then at HustleCon, eventually we got like 2,500 people coming. And so like these events and then Sean and I did a live pod in Miami and like, maybe 100 people came and it wasn't that good. And then we did it again and it was a little bit better. So like these events, it takes time and it's hard. And it's hard because unlike the internet, when you, you know, with the internet, you can delete some stuff. Within an event, you just are going to embarrass yourself. You know what I mean? It's so, it is challenging, but it was like a grind to do those events.

• 7:51Nick Huber?

  And getting, getting people to actually show up is tough. I mean, to get people to listen to my first million or my podcast, The Nick Huber Show, all they gotta do is flip through, flip through podcasts, click a little button. If they don't like it, they're gone. Getting somebody to buy a ticket, drive somewhere, the uncomfort of meeting other people, you know, it's more difficult.

• 8:07Sam Parr?

  Where do you want to go today? You want to drive?

• 8:10Nick Huber?

  So I want to talk about the traits of a successful entrepreneur. What made, what makes a, whether it's a partner, an operator, a manager at a company. And when I say entrepreneur, I don't necessarily just mean somebody who starts a business. I mean, somebody who leads other people inside of an organization. What makes those people really, really good at what they do? And I think you have a lot of experience tracking down and identifying these people who are killers. We'll call them 10xers. They're the people who, you know, I have a theory that 80% of workers are just kind of skating by. And maybe they're adding a little bit of value to a company, but the top 20% are generating outsized return for the company that they work for or themselves. If they're an entrepreneur, what makes those people tick? I want to talk about that.

• 8:56Sam Parr?

  All right.

• 8:56Nick Huber?

  The most interesting thing about this is that it's kind of, this will morph into a tactical guide of literally starting a company. Because when you start to identify these things and you track down these people and you bring them together, a company is nothing more than just a group of people that all work together. So if you can find these people and put them together, which I know you can, which I'm confident that I can and anybody who scales a business can do,

• 9:24Nick Huber?

  you can, you can make a lot of money fast. So let's dig in.

• 9:27Sam Parr?

  Well, when I, when I first started my career, it was basically just, can I make enough money to pay for my own bills? And then, once you get past that point, maybe that point is, it's different for everyone. For us, it was in the $30,000 a month range. Once we got to $30,000 a month, I realized, cool, it's sustainable to a certain level. I need to hire people and I hired one or two people in a few of my different companies where once we got to like 30 and 40,000 a month, when you hire the right person, it can 10x fairly quickly. And at that 30,000 mark, I realized at a young age, I am in the collection of people business. I just have to collect interesting people and you have to play like a long-term game because it doesn't, you can't, they're not always available.

• 10:11Sam Parr?

  But if you like play the long game, relationships last a long time. So I've done a good job of collecting people and I, you asked me this, so I made a list. So four traits that I always look for. The first is, I look for emotionally stable people. The reason I look for that is I'm not exactly the most emotionally stable person. I'm the fire. So when, when it comes to starting stuff, I don't need anyone to motivate me. I'm the flame. I'll get it started. I don't need any gasoline. I don't need anything of that, like that, but I need people who can. When you're the type of person like me and you have really high highs and I can motivate someone and I can get them to do crazy shit, that typically those people, it's almost like a comedian, they're often, if they're great on stage, that means they're probably sad a lot of times, or they get like down, or like, for in my case, I'm like, this is gonna

• 10:55Sam Parr?

  fail, this sucks. And so I always look for someone who's like pretty stable and they're a rock, who can like sustain like a pretty even pace and they, I can motivate them to get excited, but they don't get down too easily. I also look for people who follow

• 11:07Nick Huber?

  Let's do it one at a time. Let's go one, let's go one for one. You say one trait, I say one trait. So for me, it's, it's very, very similar to what you just described in yourself. And it is that, that fire, that sense of urgency and that energy. I think most people out there, just in general, a lot of people, they, they, they're like, they're in slow motion. They walk slow, they think slow, they talk slow, they make decisions slow, they're just kind of lollygagging through life. They go into work, they clock in at 9am, they do the bare minimum all day to get paid next Friday and not get fired. And then they clock out and they go home and drink a couple beers. They're not that excited about hobbies. They're not that excited about much at all.

• 11:47Sam Parr?

  Which is fine.

• 11:48Nick Huber?

  Yeah, it's fine.

• 11:49Sam Parr?

  I just don't want to, and you need those people, a lot of times.

• 11:53Nick Huber?

  You need, you need butts in seats.

• 11:55Sam Parr?

  Yeah, which is fine. Those people are fine and they serve a purpose.

• 11:59Nick Huber?

  But then you get those people that have that energy. You get those people that have that, okay, I'm gonna get out of bed today and I'm gonna attack this thing and we're gonna make decisions fast, we're gonna move fast, we're gonna talk fast, we're gonna take action fast and we're gonna get shit done. And those people, when you bring them in, they can do all the other things on this list. I think everything else on my list and your list feeds from, hey, we are going to get stuff done quick. When I started my very first company, it was a moving company that'd pick up and delivery storage for students. We bought a cargo van on Craigslist for $3,000 and we drove it back to the track house. This is kind of a good example of the different, the way that people think about business

• 12:40Nick Huber?

  and opportunity. We were jacked up. Me and my business partner, we were all excited about the idea of starting a company and going out and trying to make some money. We drove this van back and we're like, we're gonna start doing pickup and delivery storage for students. And some of our buddies, they were sitting around, we were sitting around the track house playing beer pong and they're like, you guys are freaking crazy. What is exciting about this?

• 13:00Sam Parr?

  What do you know about that?

• 13:02Nick Huber?

  What beer pong?

• 13:04Sam Parr?

  No, what do you, what do you know about moving like, you know, like who, you're not qualified?

• 13:08Nick Huber?

  Yeah, they're, they're just like, why is that exciting? You're gonna go, what, we're gonna go have fun this weekend? You're gonna go around and sweat and pick up boxes for 30 bucks a piece? Like, that does not sound fun to me. I'm, I have zero energy and zero excitement around that. And they would have quit or given up in a week or two. Whereas we were energetic, we were excited, we got after it and we were able to convince some other people to come along. And, you know, that was, you know, that's, that's the whole thing.

• 13:35Sam Parr?

  There's this great, there's this great book, Robert, you know, Robert Greene, the author, Robert Greene? He wrote that book Forty Laws of Power. He has another book that was way less popular called The 50th Law. And it's really weird because he wrote it about 50 Cent. And it's actually a great book. And I know it sounds weird, but uh, he, cause he, Robert Greene, he's into like, uh, philosophy and all this, all this stuff. But he talks about like rappers and he loves hip hop culture and he, uh, and he's like 50 Cent is really good at this because he has done a good job reinventing himself a bunch of times. He's, uh, changed his image a bunch of times, whatever. And he said, the key to 50's, uh, success was his sense of urgency. And if you don't have a sense of urgency in everything that you do, it, it ruins everything. And he doesn't just talk about business people. He talks about poets.

• 14:17Sam Parr?

  He talks about people who discover, um, who invent different medicines, like, you know, poets, writers, whatever. It's always about urgency.

• 14:26Nick Huber?

  Doing anything, doing anything that makes your life better is uncomfortable. Going out and meeting somebody, taking a chance, trying to get that really hot girl in the bar to go on a date with you. It's all super uncomfortable and it's very, very easy to just be passive. Well, I don't necessarily have the energy to do that. I'm gonna step back.

• 14:44Sam Parr?

  I used, I used to have a rule when I saw, this is how I met my wife. When I saw a cute girl who I wanted to talk to, the, the, I could only give myself five seconds after seeing her before I spoke to her.

• 14:53Nick Huber?

  Urgency, baby!

• 14:55Sam Parr?

  It was a five second rule because if you don't talk to them within a couple of seconds, you're never gonna do it. And the longer you wait, the harder it gets. And so I always had the five second rule.

• 15:04Nick Huber?

  I have a couple more on my list. Do you want me to go again, or do you want to do your second one?

• 15:07Sam Parr?

  Yeah, go one more.

• 15:08Nick Huber?

  Okay, so I think this one feeds into the next one, which is when you're starting a company and people ask me a lot after our last episode where I spoke about the four or five companies that I'm starting. Nick, how do you have time to do this? How are you doing it yourself? And the answer is I'm not. I'm going and I'm tracking down people who are really good. And I want you to riff on this too, Sam, because you're a master of bringing people together. And I have this theory about recruiting employees or partners or people in your early company, which step one is always, you know, the website, getting your click funnels, getting your copywriting down, getting your service put together, but then it's attracting people. That's all it is. As an entrepreneur, all you're doing is attracting people. I have a theory about this.

• 15:48Nick Huber?

  So 10% of people are in career nirvana, meaning they love their job, they're perfectly motivated, and they are, under no circumstance are they going to go and do something else. Another 10% of people are literally actively looking for something else. Either they're unemployed, or they really hate their job and they are very open and they're actively looking for jobs. These are the people that are looking on job boards, posting around, you know, for anything that might be another opportunity for them. And then there's 80% of people that are in the middle. Eight out of 10 people have somewhere in the middle. They like their job, but they're open to other things, or they could be open to other things, but they're not going to go on Monster or on Indeed or on LinkedIn and actually apply for jobs.

• 16:29Sam Parr?

  Which typically is the, those are the winners.

• 16:32Nick Huber?

  Those are the winners. I've every 10xer that I've ever hired, and I've been lucky enough to bring a lot of 10xers into what I try to do. And again, it's kind of because of my charisma and my sales ability and me really going out and putting myself out there and putting my sales hat on. Like, I'm literally turning into a salesman. I'm going to try to attract talent to come along on my mission. Every single 10xer that I've gotten involved falls in that category. They were previously employed, they had a job they didn't hate, and they had a boss that really didn't want to let them go. And my entire career has been built upon going and finding those people, tracking them down, identifying them, and convincing them to leave that opportunity and come along with me.

• 17:15Sam Parr?

  How do you convince them?

• 17:17Nick Huber?

  It's it's sales. It's literally I'm I'm selling them on my mission.

• 17:22Sam Parr?

  Which looks like what?

• 17:24Nick Huber?

  Sales is another thing, but I'm I'm trying to make it. I'm trying to tell them how they can win better than what they're winning right now with me. I can either make them more money. They can have a better quality of life. We can do something more fun. I got to get them to buy into my vision. I got to be charismatic and and convince them that they need to stop what they're doing. They need to make a big life change, which is careers, a huge change to make. And they got to drop it and come with me. And you do the same thing, Sam.

• 17:52Sam Parr?

  Yeah, usually what I do is I'll like I'll find someone interesting and I I just chat them up and I go, I'll be like, I usually like to flatter people. So I say, you're amazing. What's your story? And they'll just gush and tell you their story. And I act interested because I am interested. And then usually I'm like, where do you want to be in a handful of years? What do you want to do? And if they tell me something where I'm like, oh, I could help you get there. Sometimes I can't. Sometimes it's like I I can't help you get there. But if they if I can, then I tailor my pitch around helping them get there. And I'll say something like, would you like to come join me for a handful of years? And I bet you we could set you up nicely to get you to where you want to go. And I and I tailor my pitch all about them and how I'm going to help them achieve their goals.

• 18:37Sam Parr?

  And typically what I do, I've said this a bunch of times, which is the world wants people to be vanilla. They want you to fit into a very safe box. And I think a lot of people dread that, even though they are living that life. And so I tend to go the excitement and fun angle. Because a lot of the times, I'm not necessarily building the next SpaceX. Like if you're like work at NASA, there is some big vision, which is like, we're putting someone on the moon. Or if you look at work at some type of company, that's like trading a life-saving drug. I'm like, we're going to save lives, but I don't really do stuff like that. I just do awesome stuff, like fun stuff. And so I typically lean into excitement where it's like, look, we're going to build this pirate ship together. And you're going to be leading it or you're going to be contributing it in a way where

• 19:20Sam Parr?

  we're going to agree on the rules, but you could, as long as you play within those rules, you could do whatever you want. And so that's typically how I pitch.

• 19:27Nick Huber?

  I love it. And when I'm making a key hire, I do the exact same thing. I call it like the motivational interview. If I'm hiring somebody who's a little bit higher level and making an investment, they're making a big change. I need them to do some pretty important stuff. I'll sit there in the interview and I'll be like, Sam. We're talking about this company right now, but let's pretend that we're five years in the future. You and I are sitting right here. We're in this office in five years and you walk into this office and you are gushing. You're excited. You're like, Nick, things are going freaking awesome. Tell me what is going on. Tell me how much money you're making. Tell me how big your team is. Tell me if you're working from home, how much you're working. Tell me what kind of projects you're working on. And then I just shut up and I let them talk and I get to hear

• 20:10Nick Huber?

  what makes them tick and where they want to go. And if my company can't put that together, sometimes it's a really valuable tool because a lot of times, 30, 40% of the time, I'll be like, wow, I can't deliver on this. My company can't deliver on this.

• 20:26Sam Parr?

  Yeah.

• 20:27Nick Huber?

  But then other times I'll be like, okay, I just, it just gives you a look in how these people tick. You know what I mean?

• 20:33Sam Parr?

  Yeah. Yeah. And you got to tailor it. So the, the third thing, or the second thing that we won't talk about because we already did is speed. I look for speed. And that's quite hard to find. Most people aren't fast. My, my current partner, Joe, Joe Spicer, he's the only person that I've worked with that I'm like, Joe, you're going fast, man. It's hard for me to keep up. So I look for speed a lot. But the third thing is follow through. So people who actually act, and I find that to be probably the hardest thing to find. And I actually, a lot of things are trainable. I don't think that that, I think you either, you is or you ain't when it comes to following through and like actually doing stuff. And what I tend to do is I like to look at people

• 21:14Sam Parr?

  who have products or projects that are live. So someone will be like, we had this one lady reply to one of our tweets and she's like, I sold a hundred thousand dollars worth of Taylor Swift t-shirts. And I'm like, okay, that's, that's all I need to know. You do stuff. Or maybe they have a blog, or maybe they tweet, or maybe they have a YouTube channel, or maybe they have some type of hobby that involves like taking action. And I always look for those things. It could be like I organize clubs in college. Just anything where I see like, all right, you follow through. You say you're going to do something and you do it. I look for that a lot.

• 21:44Nick Huber?

  And you also, you told me this in the group chat, is that you will give them a small job. And that knocks off, if somebody's interested in joining SamPar, the SamPar Ride, and getting involved in one of your companies, one of these things, you're gonna give them something to do, and that'll knock off 80% of the people, and, because they're not gonna follow through, they're not gonna follow through. I think the, I got a good story. Webrun, the guy that I found to start this front-end web development, a landing page company, his name's Will Wallace, he's a coder, he lives in Atlanta, one of the most brilliant dudes I know. And when I saw him, I was like, Will, I need, I need, I need a favor. And I was testing him, he didn't know, I need a favor, I need a landing page, and I need something to form up on my website, I need it like right away, and then boom, the next morning I woke up and it was there, and it was freaking awesome, and he just moved so fast. He just got stuff done so quickly,

• 22:29Nick Huber?

  that speed and sense of urgency that you're talking about. If you can find a way to get a look into their mind, and it goes back to like, hey, we're looking to assemble a group of people. As an entrepreneur, we're looking to assemble a group of people. How do you know who those 10xers are? How do you know who those 10xers are? Getting a look into their mind with some of these ways that we're talking about. You're saying, give them something to do, give them something to follow through on, like, look at what they're actually doing.

• 22:53Sam Parr?

  Often I'd tell them, I get pitched like five times a day, you probably do too, people who wanna make short clips for me.

• 22:58Nick Huber?

  Yep.

• 22:58Sam Parr?

  And I almost ignore all of them, but every once in a while, I'll be like, alright, make me a video then. And I'll tell them, I will, I go, I'm not even gonna post it, so don't worry about free work, like, I'm not gonna, I'm not gonna profit off your work. Make me a video then. And we used to do this all the time, people would apply to the Hustle for writing, writing, I go, okay, write tomorrow's email. And, uh, yeah, like, I would, every once in a while, I would get a 1,200-word thing, the next day, I go, alright, sick, we'll talk.

• 23:26Nick Huber?

  What you're looking for is a look into the mind of these people to figure out if they're a 10xer. So if you're going out and you're trying to build these teams, you can shoot from the hip, you can put, bring somebody in for an interview, and then you can make the hire, or you can try to get a preview, try to get a preview. Another thing that I look for on my list, and these two blend together, I'm gonna talk about both these things. Clear and concise communication. So many people, you'll have a conversation and you'll listen to them for 60 seconds, 90 seconds, and you'll be like, what the hell is this person even talking about? Get to the point. Whereas you have Nick Huber on your podcast, I can say exactly what I've done and where I've been and how many storage facilities I have, and I've given you three or four things to bite off on the first 28 seconds that I've been on the show. Because I'm a very clear and concise communicator.

• 24:11Nick Huber?

  So I look for that. I listen to that when I'm talking to other business people. Hey, you're trying to tell me a story? You're trying to get a point across? How quick, how clear and how concise can you do it? And the ability to get points across in 15 seconds versus 30 is just mind blowing.

• 24:26Sam Parr?

  How would you feel if someone referred to themselves in the third person in an interview like you just did?

• 24:31Sam Parr?

  That's a, that's a, that's a, I'm out, dog. That's an I'm out, dog, right away.

• 24:36Nick Huber?

  We can talk about, everybody wants to hear about the social justice warrior tweet that I had a couple of days ago. But yeah, I mean, there's a lot of red flags too that are instant cuts. You're just looking for red flags. That's what you're doing. Red flag, cut. Somebody refers to themselves as Nick Huber in the third person, cut, out.

• 24:53Sam Parr?

  Dude, and the last thing that I have that's related is, and this is hard to figure out a little bit, but I look for taste and intelligence. Intelligence being like, just like, I always say, I'm like, does your oven burn hot? Like, are you just smart? Or, and can you like, do you have like emotional intelligence, but also taste? So I like to ask people what content they consume. I'd be like, you like to read? What do you read? I'm like, where do you, where do you get your news? Or if they're like, I'm like, seriously, just tell me like, who do you follow on Instagram? Or what subreddits do you like to read? Anything? I just want to know a little bit about your taste. I've noticed that.

• 25:28Nick Huber?

  And that's a really, when somebody puts you on the spot like that, that's really tough. Because what they want to do is please Sam. They want to say what you want to hear, but they don't know. It's like somebody saying, hey, what's your political affiliation? Tell me who you voted for. And they'll be like, oh, oh, I don't know. Who did you vote for? I voted for them.

• 25:44Sam Parr?

  No, and I don't care what they read. I'm just like, explain to me why it's exciting. Because if you're not excited about what you consume every day, then you're boring and I don't want to be around you. And you and and but I also want to know what their taste is because I'll hire certain people and they like write in a certain way that's maybe too corporate or like my brain is fun. And so like if they're just not fun or they don't get that I'm like, this is just, it's a bad culture fit that we're not going to blend well. So I look for taste a lot and I ask them what they consume. Or I do this thing called the bottom fourth of the resume. So at the very bottom of people's resume is like where they put like the hobbies or like what they did in college. And they'll say like, I studied philosophy. I'm like, all right, cool. I mean, I don't really care about philosophy, but I'm like, what was your favorite class? And if they say, I'm not sure. I'm like, oh, you're out. But if they like, if they say,

• 26:29Sam Parr?

  like, you know, well, this philosophy class, which I don't even know about, I'll just be like, well, why? And if they can entertain me and convince me that it was interesting, I'm like, all right, cool. You're all right. So I look for taste a lot on the bottom fourth of the of the resume.

• 26:43Speaker 02

  This data is wrong every freaking time.

• 26:46Speaker 03

  Have you heard of HubSpot? HubSpot is a CRM platform where everything is fully integrated.

• 26:52Speaker 02

  Well, I can see the client's whole history, calls, support tickets, emails, and here's a task from three days ago I totally missed.

• 27:01Speaker 03

  HubSpot, grow better.

• 27:03Nick Huber?

  I have a theory that you can get paid really, really well, and you can earn a great living if you're good at your job. If you're good at your job, you're worth, you're worth a heck of a lot to a lot of companies.

• 27:14Sam Parr?

  What do you, Albert Einstein? Congratulations on that great theory.

• 27:18Nick Huber?

  If, no if. Now, this is the theory. This is the big, this is the big part. If you can make other people good at their jobs, not just you good at your job, but if you can lead other people and set them up for success and make other people good at their job, you are the 10xer. You're the 10xer. So I'm going to look for delegators who can do that, who can lead other people and grow the business beyond. Because, look, if I hire somebody and I'm their direct report, but they can't be the direct report of other people, they're going to be a bottleneck. I'm going to be bottleneck. They're not going to help me grow the company. Now, the two things that I think are related to that that are kind of counterintuitive. Number one is copywriting. They're a really good copywriter. I think that's directly correlated to be able, being able to delegate and lead other people.

• 27:58Nick Huber?

  Cause if you can write clearly and concisely, if you can write clearly and concisely, the way people can understand it, you can lead others, you can give directions, you can be on Slack, text, email. The way that we run our businesses is through the written word. Very luckily, I can see how people write. I can see it because they're DMing me, I'm reading their tweets. I get a look into how they write. And I think I took your, your email course. I want to talk about this because I took this nine months ago or so, blew my mind. It made me a better copywriter. And now I have.

• 28:29Sam Parr?

  Did it? Did it work with you?

• 28:31Nick Huber?

  Yeah, so Sam has a course where for 10 days in a row, he's going to send 10 weeks in a row. Is it days in a row or is it once a week?

• 28:39Sam Parr?

  Days. One day, uh, one a day for 10 days.

• 28:42Nick Huber?

  One a day for 10 days.

• 28:43Sam Parr?

  Monday to Friday, so two weeks.

• 28:44Nick Huber?

  You send an email that teaches people how to do copywriting. And I did it. I got the email the first day and I spent, my wife comes in and I got a notebook full of copy written down. She's like, what the hell are you doing? And I was like, well, Sam told me it's going to work, just trust me. So 10 days I write and I copy these styles and I start to learn how clear and concise communication and hooks and throw away all the words that don't matter. Where's that located again, by the way?

• 29:06Sam Parr?

  Copy, copythat.com, copythat.com. So the word copy and then that.

• 29:10Nick Huber?

  Yeah, 150 bucks or something and it's been worth, I would, you know, 50 grand added to my career. Easy, the best.

• 29:18Sam Parr?

  Do you know why that works? I, I, I tried to explain it in that, in the thing. It's called copy work and it's how I learned how to write. And it was like this way that they used to teach kids how to write. Uh, and in the 1930s and 40s, I think there was like a change in the public schools and this thing got thrown to the side. But, um, it's called copy work. And like if, like Ben Franklin used to write this way, um, Hunter Thompson, uh, he like said, this is how he write. Judd Apatow, the director. And what they would do is they would find like scripts or like if you're Judd Apatow, you would find like a funny script that you want to emulate. Or if you're Hunter S. Thompson, you would find, you'd do like Catcher in the Rye or some book that you like. Because when you copy it by hand, you start seeing the pattern. And the texture of something in the same way where if you want to learn how to play guitar,

• 30:03Sam Parr?

  you're not going to like get the guitar on day one and write a song. You're going to like play Jingle Bells and then you're going to like move to Happy Birthday. And then eventually you're going to move to like rock and roll, then maybe blues. And then you're like, oh, this riff from Guns N' Roses, it kind of reminds me of this riff from the blues. If I'm going to like, I'll mesh that with this and I'll steal this from here. And then boom, I've got my own piece of art. And that's why it's really good. And there's actually science behind it where like it imprints into your brain and you learn the flow of certain things.

• 30:30Nick Huber?

  So if you could get good at writing and getting your ideas across and also selling other people, because people think delegating is just telling people what to do. No, you have to make them want to do it and it's sales. Life is sales, so it's a beautiful resource.

• 30:43Sam Parr?

  Do you have a few more or no?

• 30:45Nick Huber?

  Yeah.

• 30:46Sam Parr?

  I want to ask you about that tweet.

• 30:47Nick Huber?

  So I want to go through how I think about sales because I think this is really important. Because life is sales and as an entrepreneur, you're selling to customers. You're selling to investors and partners and you're selling to your employees. Just like I said, you got to go find these people who have jobs and you got to sell your idea and your vision on them. So I wanted to give you kind of a breakdown on how I think about sales and how I kind of flip the script. And I can give you kind of an example of that. The old school way to sell is you're going to be pushy. You're going to ask directly. You're going to speak the language. You're going to prove that you're an expert and then you're going to talk about all the benefits and all the great things. And then you're going to hand them a clipboard and ask for their signature. I think that that way is a terrible way to actually sell people in today's world of so many options.

• 31:31Nick Huber?

  So my way to do it is I speak the language briefly and prove that I'm a professional without being braggadocious or bragging on me or the product that I'm trying to sell. Then what I do is I dive right into talking about the downsides. Why I'm worried about it, why the deal might not work, all the things that we need to stress about. And then I ask them, given those downsides, why they still want to do the deal or why they still want to work with me or why they still want to work for my company. And then I shut up and I let them, it kind of flips the script to where they

• 32:01Sam Parr?

  I do that all the time.

• 32:02Nick Huber?

  Person, they become the salesperson. So like Sam, you're about to start working for me as, you know, you want to come to work for Nick really bad. And we're going to start this company together. I'll say, dude, this is an agency business. It's really hard. It might take six months before we make any money at all. We might be stuck in it. Worst case scenario, we're going to waste a year of our life. Why do you want to come join me? Another really great example of this is for my investors in my real estate deals. They get on a call with me and they expect me to just sit there and regurgitate all the great things about storage, all the great things about real estate investments, the tax benefits, why I'm such a good operator, all that stuff. I don't do any of that. I get on a call with somebody, a Zoom call with somebody, and they already know me, they're

• 32:44Nick Huber?

  already on a call, they're already interested in investing in storage. So I talk about all the downsides. I'll say, "Look, Sam, let's do an example here. You give me this 50 grand, you're going to invest with me. And let's say, interest rates spike, the economy tanks, people don't use storage as much, and all of a sudden, this deal is worth 20 or 30% less than what it was. And instead of giving you an 8% cash on cash return, I'm going to give you a 2% cash on cash return. Now, it's my job to make sure we don't lose the properties. I'm going to do this, this, and this to think about risk. But why do you want to invest in storage?" Boom, flip the script, flip the script, and the person will say, "Well, Nick, it seems like you've thought a lot about these risks. You're worried about this stuff." I don't have to worry about this stuff. I don't need cash flow

• 33:26Nick Huber?

  off of this. It's a long-term investment. All the other reasons why, you know, it might work that way.

• 33:31Sam Parr?

  When you're starting these new things, how much do you fund them with?

• 33:35Nick Huber?

  RecruitJet, we put 50 grand in the bank account. Webrun, we put 10 grand in the bank account. Blue Key Capital, we're going to put 50 grand in the bank account.

• 33:47Sam Parr?

  Did I tell you about Kevin Ryan? You know who that is? You're doing what he does. Kevin Ryan, I've talked about him a bunch on this pod. He's kind of my hero. He started, he was the CEO of DoubleClick, which eventually sold to Google for multiple billions and it became AdWords or whatever, AdWords or I forget, AdSense. I think AdSense, one of those, like the way Google makes all the money. So it's like the best acquisition ever. He was like employee 20 there, and then he took over as CEO, sold the company for multiple billions. And then he went and started, he took like his, whatever he made, $10 million, and this other guy who worked at DoubleClick named Dwight, and they go, "We're going to start this thing called Silicon Alley." So they're based in New York. So it was like the take on Silicon Valley.

• 34:31Sam Parr?

  And they invested, he goes, we would put our whole shtick was, we're gonna invest $300,000 into a handful of interesting ideas we have. And we'll try to find someone to partner and we'll try to make them big and we want big outcomes. And with this method, he started Gilt, you know, like the women's fashion clothing company. It didn't work out, but it got to like hundreds of millions of revenue. He started Business Insider, which had a $600 million exit. He started MongoDB, which is a publicly traded database company. I don't know, it ranges between 20 and 30 billion on the market cap. What else did he start? He started Zola, which is like the wedding registry business. He started like maybe three other things that are big.

• 35:14Sam Parr?

  And he goes, I give each company six months and 300 or 400,000 dollars, something like that. And, you know, 300K is kind of a lot. I mean, it's definitely a lot of money, but it's not that much money for how much value he creates. And he gives it 300K in six months. And that's how long it takes him to like figure out if an idea is gonna be worth it.

• 35:32Nick Huber?

  It all depends on the opportunity. I mean, some of these, the guy that we're partnering with on Recruit Jet, me and Sahil and Marshall from Support Shepherd are starting a company called Recruit Jet. To headhunt US talent this exact way, like, hey, we're gonna go into that 80% of people. We're gonna find them for companies. The guy that's our head recruiter, he's been a recruiter for 15 years. He's done work for me. He's a complete badass. He's not gonna leave his job. He's not gonna leave his job until we get our first contract signed. So we don't have any expenses yet. On the other side of the table, I'm trying to start a debt brokerage firm. Meaning we're gonna be the middleman that finds and secures debt for giant commercial real estate projects. We're gonna go to all the banks, we're gonna shop them, we're gonna put the packages together and close the loans.

• 36:17Nick Huber?

  I'm right now on the road trying to attract a partner in that business. I have somebody in mind. I'm gonna have to shell out a lot of money because this guy makes 450 grand for a bank right now. He's our best loan officer, he's a 10x'er, he's a killer. I'm gonna have to make him an offer where it's a little bit less equity, less of a percentage of sales. But I'm gonna guarantee him 200 grand a year for two years. Me personally, off my personal check account. Hey, this is, I'm gonna sign a contract with you. Because I already know how he thinks, I already know he's a 10x'er. I know he's incredible. He's done incredible things for our company when it comes to sourcing debt. Come to work for Blue Key Capital. I'm gonna guarantee you, I'm gonna promise you two years of runway at 200 grand a year.

• 36:58Sam Parr?

  But are you gonna put any additional capital?

• 37:00Nick Huber?

  Yeah, we'll have to. We need to hire some additional people, but for the most part, it'll be website, landing page, customer.io, automatic replies to emails, you know, it'd just be building the infrastructure that I'm so good at doing for all these other companies.

• 37:13Sam Parr?

  And you're actually gonna do it? You're gonna write all the copy? You're gonna set up the email?

• 37:18Nick Huber?

  Web run. I'm gonna have Web run do that. And then I'm gonna create a

• 37:25Nick Huber?

  Twitter account, make the follow account, and then I do a a software called Birdflow that has an automatic DM.

• 37:34Sam Parr?

  I told you about that.

• 37:35Nick Huber?

  Yep, you told me about it. Every time somebody follows the account, they get a DM and it'll say, hey, if you're placing any debt on any big projects or you're buying something you need help with banks, give us a call and we'll just drive leads that way. So it'll be

• 37:46Sam Parr?

  Does that, does this person have a family?

• 37:48Nick Huber?

  What's that?

• 37:49Sam Parr?

  Does this person have a family?

• 37:51Nick Huber?

  Yeah, he's got a 12-year-old and a nine-year-old and his wife

• 37:55Sam Parr?

  Doesn't that freak you out?

• 37:56Nick Huber?

  It's very, it's very freaky. Yeah, it's, it's, it drives pretty significant insecurity. Yeah. I mean, even Will, even Will at Red Run, he had to leave a job where he's making 400 grand to start an agency with me. So like selling these people, like identifying the 10xers and selling them on coming to join the Nick Huber mission, like that's, that's what it all is. Like that's, that's the hardest part of this stuff.

• 38:19Sam Parr?

  The first family person that I hired, the person that had a family that had children, I remember thinking like that when we hired them, I was like, I have a family. I was like, I now have a family, you know, I was only 26 and I was like, shit, it feels like I have a child and it's, it shouldn't actually feel that way maybe, but in a way it kind of should, where I'm like, oh shit, like I have, like if this is no longer just necessarily about me, this is about like all these other people and stakeholders involved. And I remember freaking out. I was very nerve wracking.

• 38:52Nick Huber?

  The stakes go up and it definitely have some times where I'll wake up at night and I'll be like, what the hell am I doing? Like, am I really think we can drive enough business to support this person? And I'm convincing them to leave their job and their livelihood. They make 450 grand a year right now. I'm, I'm insane.

• 39:06Sam Parr?

  Dude, it's scary. What about, um, what did you, you messaged something, you tweeted something out the other day that you got a lot of flack for?

• 39:13Nick Huber?

  Oh, yeah.

• 39:14Sam Parr?

  What did you say?

• 39:14Nick Huber?

  I'll just read the tweet because it's funny. So, um, we talk about social justice warriors a lot inside of our group chat.

• 39:23Sam Parr?

  How many, what would you, what's a social justice warrior?

• 39:27Nick Huber?

  So a social justice warrior is anybody, it can be a supreme leftist, or it can be a Trumper. It can be somebody who is out on a mission to change the way that a certain group of people is totally mistreated. Whether it be people who want to carry guns, or whether it be minorities, whether it be, uh, you know, people who feel a certain way from a certain place. They're just out on a mission to go to war with culture to make it better for a certain group of people. That's a social justice warrior, in my opinion. Is that a correct definition?

• 39:57Sam Parr?

  That's significantly more positive than how I use it. A social justice warrior to me is someone who like is very close minded, very outspoken and will not be well balanced or open minded to new ideas and new facts or, and who will automatically dislike you because you do believe in something. Regardless if you're like, for example, let's say you're, this is a controversial one, but pro or anti abortion. It doesn't matter which side you fall on.

• 40:27Nick Huber?

  Yep.

• 40:28Sam Parr?

  You can probably have a conversation with either side. A lot of people can be like, well, I disagree with you on that, but I understand your perspective and I don't hate you for it. You just have different opinions than I do. Whereas a social justice warrior is like, well, you're wrong regardless of how you feel.

• 40:41Nick Huber?

  Yep. That's, you put it exactly right. So I made this tweet. The worst thing you can do as an entrepreneur is hire a social justice warrior. People who are very radical politically are way more likely to sue you or your business, upset your customers and upset your team members, either side of the aisle. I said, luckily, politics is not a protected class, so I'm allowed to view somebody's social media. I'm like, yeah.

• 41:08Nick Huber?

  And then I said, these folks bash people that they don't know on Twitter and social media constantly. And I said, you don't think they'll take to a public forum to bash you and your company when you fire them for missing work to attend the eighth rally or march of the year?

• 41:22Sam Parr?

  And so what do people say to that? No, you didn't get any hate, did you?

• 41:27Nick Huber?

  Oh, yeah. Oh, yeah. The people who it's got 64 quote tweets right now. This guy says, bro, just say that you don't hire black people. It's way easier. Like, people are just really calling me a racist and calling me a lot of really mean things, which I'm not at all. I'm, I'm, I am trying to, I'm trying to weed out people who are close minded. Because if you're radically politically left or radically politically right, that just tells me that you're not balanced. Because nobody that I know is super radical politically. It's just a giant waste of time and energy. So I just think it's a good practice. If you're a business owner, look at the way people spend their time. Where are they? If they told you they were in Reddit anti-work, when you asked them that question earlier, like, what content are you consuming? Oh, I'm in Reddit anti-work? Okay, out.

• 42:12Sam Parr?

  Well, I, but they could make a good argument as to why they enjoy it. So for example, I like reading, have you seen this subreddit called, what's the one where people have multiple jobs?

• 42:21Nick Huber?

  Oh, yeah. Yeah, that is fascinating. Entertainment values another thing.

• 42:26Sam Parr?

  It's these people who get multiple jobs, like sometimes three or four jobs. And though, and I've known a couple of people who have done this. It's called overemployed. It's called overemployed. It's a pretty funny name. And like, I've known, dude, I've known people who have done this. So they get a job at Facebook and Google. And so they'll, and they call it J1 and J2. And so they'll post like advice, like, hey, so my J1 has me working from like, I can get it done from like 8 to 10 a.m. And then J2 is like noon to 3. How do you people, like, get your manager to only put meetings for J1 in the a.m. Or something like that? And it's crazy. And I've known a guy who had a job at Facebook and Google, 250,000 or something like crazy for each job. So is, and they'll say like, so, total income is 600,000.

• 43:11Sam Parr?

  That's broken up with J1 at 200,000, J2 at 300,000. And they'll like, say this, it's hilarious. And I read it all the time because I'm like, well, I'm pretty sure I'm against that because that's unethical. It's not illegal, but I wouldn't like that if someone did it to me. But then I'm like, but is that wrong? And so anyway, I like to like read that to like, just explore new ideas. And it's also just hilarious. So if someone told me they read anti-work or overemployed, I'd be like, okay, why? Tell me, what do you learn?

• 43:39Nick Huber?

  It goes really, it goes really deep. As I'm diving into this stuff on recruit jet and learning how recruiting companies work. And I've talked to probably 15 recruiters in the past month and just asked them, you know, what about? There are people who will literally show up to an interview like this, an interview like this. And their mouth is moving, but somebody else is talking to them. And it's the people who are trying to hear.

• 44:00Sam Parr?

  No way, no way.

• 44:01Nick Huber?

  Yes.

• 44:02Sam Parr?

  Tell me, tell me about that. So what happens?

• 44:04Nick Huber?

  If you're, so you're a recruiter, somebody hires you to go place a tech position. You're a technical recruiter, you're going to find somebody to work for Google for 250 grand a year. You're going to go in and you're going to sort through LinkedIn, you're going to bring in all these applicants. And you got to try to find a way to scan out a third of the applicants. A third of these people are trying to get more than one job, being a, being a software developer. And you literally can talk to them on the phone and that can't do it because then they can wire in somebody else to talk. If you.

• 44:28Sam Parr?

  And that's why they do that. They, that's why they do video is for that reason?

• 44:32Nick Huber?

  They have to do video. I should have asked the guy a lot more questions about it. If you're following me and Sam and you're listening to this and you obviously know about this occurrence, tweet us because I want to know more about this as well. But he told me that you're on a zoom call with somebody and it's blurry and, and their voice is not really the one talking. And it's people who are trying to get more than one freaking job.

• 44:50Sam Parr?

  Crazy, that's ridiculous. That's, that's, that's kind of amazing. And, and like, there's some way, you gotta look at from a like, that's sleazy, don't do that. But also you're like, that's pretty amazing. You know, it's like, a lot of my, my sleazy friends in high school, they would like pay someone to take the ACT form. And I remember thinking like, I don't know, man, that's pretty, that's almost as impressive as actually doing a good job. You know what I mean? I'm like, I don't want to work with you, but like, kinda I do. If like, if you, if you could use that for good.

• 45:19Nick Huber?

  You see so many criminals get caught doing all this crazy stuff. And you just think that if they put that energy towards something productive, how rich they could get.

• 45:29Sam Parr?

  We had um, we had this guy named Michael Harris. Michael Harris founded Death Row Records. You know Death Row, they like created Tupac, Dr. Dre, NWA. Like, they basically invented like modern hip hop or they invented like gangster rappers.

• 45:43Nick Huber?

  They were the marketing machine behind those guys, right?

• 45:45Sam Parr?

  Yeah, and so Michael Harris partnered with Suge Knight. And Michael Harris did it from prison. He was serving 25 to life. He got in trouble for attempted murder, which eventually he got exonerated by Trump two years ago and he got let out. But he served 30 years partially on death row. And the other charge that he was convicted of, that I think he, I, I'm, he admitted to doing was he was selling at times $2 million a day of cocaine, of crack. And he was talking about it and he was like, once I started getting all that money coming in, I started realizing like, I also need to go legit and do things the right way. And so he started buying real estate and he started doing all this other stuff.

• 46:27Sam Parr?

  And he was like, I was killing it in the drug game, but like I killed it even harder, like just doing the legal stuff. Like I, you know, he's like, I had the cash flow from it. So like, I, I definitely profited off of it. But he bought buildings, he started a limo company. He, um, eventually Death Row was bringing in like north of a hundred million in revenue because CDs at the time were $19 and it was like a dollar to make a CD. And he was like, we killed it the right way, but I did all this bad stuff, so I had to pay the price.

• 46:55Nick Huber?

  I think the

• 46:56Sam Parr?

  He was like

• 46:56Nick Huber?

  It's such a good example that business is simply a flywheel around these things that we spoke about in this episode. If you can get these things right, attracting people, leading people, managing people, delegating, writing, it can work in any business. Once you learn these skills, I could put Sam Parr and I could take him and I could drop him in a grocery store chain and I guarantee you, you would thrive. I guarantee you could succeed just because of the way that you think about business, the way that you can lead people and the decisions that you would make. So, um, I, I feel strongly that once you get the flywheel going and once you push yourself and once you start to learn some of these things, you can, you can crush it.

• 47:34Sam Parr?

  You're doing something that I hate doing. And I advise most people not to do it, but there's many examples of people doing it successfully, of which you're one of them, which is doing multiple things at once. In most cases, I think doing multiple things at once is a horrible idea. I think we saw a, the few times it does work is when there's like a Ryan Reynolds. You see Ryan Reynolds sold Mint Mobile today for like 1.5 billion or 2 billion, whatever it was. And then like last year, he sold, what was his?

• 48:04Nick Huber?

  Liquor.

• 48:05Sam Parr?

  His liquor. Avion or Avion or something like that. He sold that for hundreds of millions and you know, I don't have any idea. But it says like Ryan Reynolds sells his telephone company and I'm like, probably he has nothing to do with it. He just does the commercials. Maybe he has something to do with it. I have no idea and I've no idea. It says like Ryan Reynolds, his telecom company got sold. Maybe he only owns like three points. I have no idea, but in that case, someone like him, he does have multiple things. When it's you, who you are doing a lot of the work and you're not, you're famous or you're a big deal, but you're not like everyone in America knows who you are. I think that it's scary and it's challenging. Why are you doing more than one thing versus just one thing?

• 48:49Nick Huber?

  I'm pushing myself. I don't know if I can do it. There's a lot of anxiety around it and some of these things will fail. I mean, look, it's five companies that we've started in the past year.

• 49:01Sam Parr?

  What will the collective revenue of those be, do you think in 2024?

• 49:05Nick Huber?

  Okay, so you want me to make a prediction and then we can come back on and test it actually. So I think RE Cost Seg will be doing 500 grand a month or so in EBITDA.

• 49:16Sam Parr?

  In 12 months?

• 49:18Nick Huber?

  In the year 2024, at the end of 2024, we'll look back on the year and I think it'll do 2.5 million in EBITDA probably.

• 49:26Sam Parr?

  So. Okay.

• 49:29Nick Huber?

  Web Run, I think.

• 49:31Sam Parr?

  On what top line?

• 49:32Nick Huber?

  Okay, 30% margins. So whatever that math is. Web Run, I think will be 30 or 40%.

• 49:40Sam Parr?

  Getting close to 10 million in sales.

• 49:43Nick Huber?

  Yep, yep. I think RE Cost Seg will be really big in the year 2024. So 18 months from now, like trailing. Titan Risk, the commercial risk property insurance company. I think that one will do. 3 million in sales at a 50% margin probably for insurance brokerage company. Webrun, I think, will be doing 200 grand a month.

• 50:07Nick Huber?

  If revenue, so maybe 70 to 100 grand a month of profit.

• 50:13Nick Huber?

  Recruit Jet, I think, will be a big company. I think Recruit Jet will be 5 million of revenue and 3 million of EBITDA.

• 50:23Sam Parr?

  Okay, so collectively, you're in the 6 million profit range or something like that, 7 million, I forget.

• 50:29Nick Huber?

  Yeah.

• 50:30Sam Parr?

  What would?

• 50:30Nick Huber?

  Blue Key Capital could be the big one, the debt brokerage company for real estate firms. That one could be doing, again, another 5 to 10 million of revenue as well, pretty good margins, a small team.

• 50:42Sam Parr?

  And would you, so 2.5 million for cost seg, what would that be valued at? Could it be as high as 10 times profit?

• 50:51Nick Huber?

  No, I don't think so. Cost seg is politically dependent. You know, if bonus depreciation rules go up and down, it changes the demand for cost segs, right? So I think 3 to 4 times EBITDA would probably be the value of that company, wouldn't be worth selling.

• 51:06Sam Parr?

  So the cash flow is awesome, the multiples are shit. Everything that I've ever started, typically the cash flow is only okay, but the multiples are really, really good.

• 51:17Nick Huber?

  This is what I-

• 51:19Sam Parr?

  10 or 20 times profit.

• 51:20Nick Huber?

  Yep. This is what I can't stand. I tried to convince a kid to come with me to do a web development agency and I failed. My sales pitch failed, he didn't join me, and he kept saying, "There's no enterprise value." He kept saying, "There's no EV in web development." And my entire thesis is, screw EV, EV will come. I want to be making money every single month and cash flow every single year. That's the goal, and if we can do that, good things will happen over time and we'll see which one of these companies really takes off.

• 51:51Sam Parr?

  But to play devil's advocate here, when I was first starting the hustle, I was doing the math. And I was like, wherever I want to be by the age of 30, so in 5 years after starting or 4 years after starting, you have to make a ton of profit. Like, selling a company, if you can get 10 or 15 times earnings or 3 or 4 times revenue, that's a huge, that's a huge number. And for a lot of businesses, it's not impossible to get that. You know, you need some type of recurring revenue in a really big market and fast growth. But like to make like 20 to 50 million dollars or significantly higher. My argument is it's way easier to get there by selling, selling to get capital gains.

• 52:33Sam Parr?

  There's a lot of people who have done it like Andrew Wilkinson's company is just like killing it. And so he's doing it through cash flow. But if you like do the math. Val, yeah, my friend Val is doing it, but he also sold a company. He sold a company. He sold two of them for tens of millions of dollars. I, my opinion is, and there's, there's so many examples where I'm wrong, but in most cases, I think you, it's significantly easier to sell something than it is to earn through income.

• 53:06Nick Huber?

  That's my problem, Sam, is I've never sold, I haven't sold a company right now. I've never, I've never sold something to create a massive liquidity event. So I don't have, yeah, I think I would.

• 53:16Sam Parr?

  I mean, unless you work in finance, maybe like in your, one of your company, two of your companies are finance related. Unless you work in finance, I think it's hard to get a significant amount of income. But like, I don't know, like Donald Trump claims to have done it, like a bunch of people have claimed to have done it through, through real estate and finance. But I think it's hard through a product, a product based company.

• 53:36Nick Huber?

  If you can really, if you can wait it out, I mean, time is on your side. You know what I mean? If you, if you're okay living, I, I look, I live in a, I live in a house that I bought for $290,000. I drive a truck that's worth about 12 grand. Like if I can just not buy a private plane or a $4 million house, I don't have to sell anything. And I think time will really help me. So I'm on the, I'm on the train now.

• 54:00Sam Parr?

  How do you, but how are you not like, like, you know, desire is also like evil, you know? When it comes to this stuff, like when you want shit, you suffer. And so like, I know a lot of people that are really wealthy and I, every once in a while I fall into this trap where I'm like. Five years ago, if I knew, if, if I, my, my five, you know, my 25 year old, if they knew where I was today, they'd be like, oh, you're fine. And then I get to where I am now and I'm like, oh, but there's another step. Or what about a 10 or 20 million dollar home? Or what about having a warehouse full of cars? Or what about doing this or that, or owning a sports team? Like, okay, you need more. You don't desire things or a $50,000 watch or something?

• 54:42Nick Huber?

  Of course I do, man. Of course I do. I really want an airplane. I really want a PC 12 and that's my goal is to have.

• 54:48Sam Parr?

  How much is that?

• 54:49Nick Huber?

  It's a $5 million airplane.

• 54:51Sam Parr?

  And to fly yourself?

• 54:53Nick Huber?

  Eight, fly my family and fly my nanny. And we could go from here to LA without stopping for gas.

• 54:59Sam Parr?

  That's your goal?

• 55:00Nick Huber?

  That's a goal of mine, but.

• 55:03Sam Parr?

  But why own it instead of, I knew a guy, I know a guy who bought a jet for $16 million during the pandemic when he had just sold the company for a hundred million bucks. He owned it for six months and he was like, what the hell am I doing with this? And he ended up selling it for 20 million. He goes, I made a profit on it, which was lucky, but it was looking like a horrible finance, financial decision. Could I have spent all this money to store it? It was like, it was the stupidest thing ever.

• 55:23Nick Huber?

  Yeah, it's straight overhead for sure. Straight overhead, but I need to, I, I live, my family lives seven hours from here and driving with my family is something we're only going to do once a year. So I can't get back to see my dad and my mom and my grandfather, who's only got a couple of years left without easy access to get back. So it'd be really nice to have an airplane, but yeah, I'm, I'm not going to do it. Like I decided with my wife, we're going to wait because I just want to show my kids that I'm not just going to go out and buy everything I want. And I'm going to suffer a little bit and that's okay. And, you know, delayed gratification keeps me humble too. And, but it's tough. I battle with it every day, man. I mean, it's really easy to spend a lot of money.

• 56:01Sam Parr?

  What, what's your, what's your dream number?

• 56:04Nick Huber?

  Like as far as personal net worth?

• 56:06Sam Parr?

  Yeah.

• 56:08Nick Huber?

  If I'm making a million dollars a month, I think I can then do whatever I want.

• 56:12Sam Parr?

  Isn't that funny? I, but I bet you would have thought that 10 years ago, if you are where you are now, you could do whatever you want.

• 56:18Nick Huber?

  If somebody would have told me five years ago that when I retire, I am where I am right now, I would have given him a thumbs up and, and said, I'm happy. Please make that happen. So.

• 56:29Sam Parr?

  Dude, the goal, the goalpost always changes.

• 56:31Nick Huber?

  It's so, it's so hard, man. And it's easy for me to cry and say, oh, it's tough, but it, it's like a. It's a tough thing to swallow as a man when like all of a sudden you have seven figures in your checking account. You have hundreds of thousands of dollars a month that come your way. And you got to figure out what gets you out of bed and how you're going to not be an asshole and how you're going to raise good kids. And how, and I don't know about you, but I get excited about hobbies and I'll pick up golf and I'll or tennis or pickleball or airplanes, whatever. And I'll just get really, really, really into it. And then it's on to the next thing. It's on to the next thing, on to the next thing. And I don't like that about myself. I wish that I was more disciplined long term. And how do you feel about that?

• 57:13Sam Parr?

  Um, I'm very disciplined, I think. Compared

• 57:21Sam Parr?

  compared to a lot of people, I think I have a, I'm fairly disciplined. I think I we spend anywhere from when we're in Austin, I spend $15,000 a month or so. When I'm in New York, I spend a little bit more. But because I don't drink and go out like Monday to Friday, we don't go out at night because it's a school night. We say we go, it's a school night. We're not going out. I live in a house that was is under a million dollars or paid on well under a million dollars. So which in Austin.

• 57:53Sam Parr?

  It's kind of hard to find that stuff, but I think I'm pretty disciplined long term, but I do struggle with wanting more. And my wife is always like, stop wanting that. Like you're going to drive yourself crazy. And so like, I do always want more stuff. And I try to like, like, I want like,

• 58:13Sam Parr?

  I want to buy just a huge garage in Brooklyn and just stash all types of cars and motorcycles. And then to have like a fantasy factory and just open up the garage door and just sit in front of it. And anyone who walks by and like admires it, I'll be like, oh, you want to come in and look like I'll show you around. We could like play with it all. Like I want that, but that's going to cost 20 million bucks. Maybe like I, and it's a pointless thing because when you die, you don't get any of it. But

• 58:39Nick Huber?

  I got a funny story. I ordered, I ordered a lot of bourbon lately, like high end bourbon.

• 58:44Sam Parr?

  Like how much is a fancy thing of bourbon?

• 58:48Nick Huber?

  The most expensive bottle was like $7,500. And this is going to make me

• 58:51Sam Parr?

  You paid for 7500. You bought a $7,500. Does it taste any different? What's it do?

• 58:55Nick Huber?

  This is me being vulnerable. I have, I have zero life overhead. Like I could cut my spending to five grand a month and put my kids in daycare and pay for my house payment, which is $1,200. So I've avoided like the big expenses. I've avoided the big, big house, the plane, the big cars, whatever it is. So I splurge on some of the little things that sound huge and obnoxious to some people, but aren't really that obnoxious. So I got some really nice bourbon, some bottles that are really special.

• 59:25Nick Huber?

  And then I got them. I'm looking at it in my bar and I sent a text to like four of my boys. I'm like, hey, come over. Let's try some bourbon.

• 59:33Nick Huber?

  And nobody can come over.

• 59:35Sam Parr?

  They can't come and hang out.

• 59:36Nick Huber?

  Nobody can come hang out. They're all working. Or they're out of town or whatever. So the next morning I got up and I just looked at it. I opened one of the nicer bottles. I poured a little bit myself and I'm like, fuck, none of this matters. None of this matters. All, it is all about the people and the people, how they feel about you, whether or not they care about you, whether or not they respect you, how you can help them, how you can help them become better versions of their selves. So the stuff is really just a distraction. It sounds cliche because everybody says that, but it hit me when I was looking at that bourbon and I'm like, my parents, my dad loves bourbon. He's seven hours away. My brother's nine hours away. He's not here. Sam Parr doesn't drink alcohol. He can't come over with me.

• 1:00:19Nick Huber?

  You know what I mean?

• 1:00:20Sam Parr?

  Yeah. Does a $7,500 bottle taste any different than a $50 bottle?

• 1:00:25Nick Huber?

  I haven't opened it yet. It's the mixers 20 year.

• 1:00:28Sam Parr?

  Does a $1,000 bottle taste any different?

• 1:00:31Nick Huber?

  You know, I think it does because it sounds ridiculous. No, it doesn't, Sam. It doesn't. It fucking doesn't.

• 1:00:38Sam Parr?

  It's just a Pokemon card.

• 1:00:40Nick Huber?

  It's an ego thing, man. I'm a, I'm a, I'm a weak man who is after the ego sometimes and I gotta stay. I just gotta remind myself of that.

• 1:00:48Sam Parr?

  It doesn't matter, does it?

• 1:00:50Nick Huber?

  None of it matters.

• 1:00:51Sam Parr?

  I, I bought like a decent car and that makes me happier. But besides that, most, most items don't.

• 1:00:57Nick Huber?

  And what am I gonna do? Like invite somebody cool over? There's a couple of pro golfers in town that I'm friendly with and I keep saying like, come over and drink some of my nice bourbon. And what am I gonna be that asshole guy who brings in this famous person into my house? And is like, yeah, drink my awesome bourbon and just talking about how awesome. Like it's so fucking dumb. Like I'm such an idiot.

• 1:01:15Sam Parr?

  I don't think it's dumb. Where do you, where do you buy this from? And you, you do cigars too. Those are

• 1:01:21Nick Huber?

  I really like, so those are, those are two of my hobbies. It's cigars and bourbon because I share them both with my dad and golf.

• 1:01:27Sam Parr?

  Can you be any more of a stereotype?

• 1:01:30Sam Parr?

  Golly.

• 1:01:31Nick Huber?

  But my house is so weak. Like it's literally sitting on, the bourbon is sitting on a $200 really shitty cabinet that I got from Home Depot whenever you did my basement. But no, a guy over in Carrollton, Georgia, I'm his biggest customer and every year he gets the releases and drives it over to me and I give him an envelope full of a lot of cash.

• 1:01:50Sam Parr?

  You got a guy. Dude, I love having hobbies where you got a guy. That's the best. That's the best. Well,

• 1:01:57Sam Parr?

  I appreciate you doing this. We had a good episode. What, anything you wanna, you wanna pimp out or promote?

• 1:02:04Nick Huber?

  A lot of people ask me where they could invest with Bolt Storage and real estate's really slow, but you can go to BoltStorage.com/investors. If you're an accredited investor and you want to get storage exposure and also my newsletter that I write every week, I think a lot about this stuff. A lot of the stuff we're talking about, like what makes

• 1:02:19Sam Parr?

  How many subscribers do you have on that?

• 1:02:21Nick Huber?

  I'm up to 42,000. I'm working it really hard. I'm adding like 600 a month. It's kind of, kind of weak, but I, I write a lot about a lot of this. Like what makes a 10x'er? How do you think about this stuff? How do you think about hiring management, like getting these, these teams together? So if you go to, if you go to my Twitter at Sway Startup, there's a little link in my bio and you can join my, join my newsletter.

• 1:02:40Sam Parr?

  All right. We appreciate you. Thanks for doing this.