Asking Billionaires How They Got Rich! (Beverly Hills)

excuse me sir question for you how old

were you when you became a millionaire

you have to ask a millionaire what do

you mean I'm a billionaire you're a

billionaire yeah have you ever been

broke before hell no no and what lot of

business are you in I want to tell

you that but I ain't been broke are you

a business owner I was but I sold my

company how much did you sell your

company for 255 million you sold a

company for over 250 bill I did actually

Y how old are you now I'm 39 and how old

were you when you became a millionaire

17 17 years old that's right a

millionaire at 17 throughout your career

what was the most amount of money that

you made in a single year in sales yes

hundreds of millions a year did you go

to college I did go to college

Elementary was good enough ele was good

enough so give him one last lesson about

businesses not t in

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spool you guys we just landed in Beverly

Hills in one of the richest cities in

the entire world Los Angeles California

and today I'm going to be going around

one of the wealthiest shopping centers

out on Rodeo Drive to ask holiday

Shoppers how they created their wealth

how they grew multi-million dollar

billion dollar net worths and how you

can do the exact same thing and start

your path to becoming financially free

going into 2025 so stay tuned from start

to finish cuz this is going to be

another banger but with that being said

let's get this video on the

[Music]

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way excuse me sir question for you how

old were you when you became a

millionaire you have to ask a

millionaire what do you mean I'm a

billionaire you're a billionaire yeah

how old were you when you became a

billionaire oh in my 50s in your 50s

yeah and what lot of business were you

in the hospitality business what were

you doing in Hospitality it's a funny

story I was bus boy to boardroom I've

done every job created Diamond Resorts

International yeah so you're a business

own I was I was Hilton owns my company

today Hilton bought your company Hilton

bought my company wow eventually yeah

what did the company do I own hotels all

over the world 35 countries I go all

over the world inging the most

successful entrepreneurs could I get one

quick minute with you for the channel

sure do you come from a lot of money no

like I started with Nega $20 million

unfortunately my father went broke I had

to pay it off so I didn't start from

zero I started $20 million try that

party trick and what did you turn that

into I I actually created a company was

worth 2.2 billion do 3.3 billion Equity

value actually actually Enterprise Value

yeah wow what was your relationship with

debt as a business owner I always made

sure that i' never over levered myself

and I always paid my partners back as

quick as I can my bank's off as quick

because I can before I took money myself

so I always made sure that people were

paid off before I paid myself did you go

to college I did did College help you

become a billionaire it taught me how to

think logically cuz I went to school to

be a surgeon I never went to business

school but I kind of did cuz Mike milin

helped me learn business he gave me my

business degree and Harry Reid taught me

by politics and policy you've sold

billions of dollars in revenue and in

profit throughout your career what is a

billionaire secret to sales give me some

sauce on sales right here listen is that

simple listen yeah the customer your

friends your Bankers will always tell

you the pathway listen deliver equal or

greater value but what's your best

negotiation advice as a billionaire put

the pen across the table and the first

person who talks loses actually break

that down you don't want to speak first

in the negotiation is what you're saying

when the deal is ripe it solves itself

just put the pen across the table and

shut up but that comes from listening

what's a lesson about money that Banks

don't want people to know the lesson I

would always I never negotiate with my

Banks don't negotiate with your Banks

make sure you make your Banks a ton of

money they'll always be there for you

what do you mean by that cuz Banks R in

the business of making money for

themselves so how can you kind of I

guess forgo that or or I never

negotiated rate I always made sure my

Banks made a lot of money with me we all

made a lot of money together everyone

was always paid back everyone my

investors early my Bankers early and

they all made a lot of money so never

worry about negotiating rates if

somebody offers you a deal and it makes

sense for everyone let everyone make

money right but have you ever been broke

before k close to being broke never but

it was usually for unintended

consequences like 9911 the financial

crisis of 809 uncontrollable situations

what do you mean by 911 when the planes

hit the twin towers and I was in the

hotel business and we had guests at our

hotel and then all the planes stopped

flying I had no customers my cash

register went to zero how important were

relationships for you relationships are

always very important but a matter of

fact you got to stay out of one ZIP code

the zip code of bad people if they're

around your life make them go away don't

go in that zip code you are who you hang

around with so hang around people that

are smarter than you always that are

more successful than you learn learn

learn and you'll have your time but you

got to work hard right there's no free

lunch there's no Lottery and if you win

the lottery it's called the lottery

curse so you will go broke bad things

will happen to you you have to earn it

old fashioned way work hard what's a red

flag that you see in people that tells

you stay away from that person when

you're leasing a Lamborghini or

releasing a house in Bair or Beverly

Hills you can't afford it don't stay

there don't don't drive it until you can

pay cash for it so you can't trust

people who are renting is what you're

saying flakes frauds cons grifters wow

you got amazing advice sir thank you so

much for your time I appreciate you you

guys we just ran into and interviewed a

billionaire out here in Beverly Hills he

said I'm not a millionaire I'm a

billionaire with a be and I have to say

my favorite part of that interview was

when he talked about the importance of

listening and most importantly to your

customers guys the biggest reason people

go out of business is because they have

the customers people buying their

products but they don't listen to what

they want the changes they want being

made so they're going to go give their

business to other people if you listen

to your customer feedback and figure out

what they want and the products and the

services that you're offering you can

create real market share and build a

winning million-dollar business great

interview out here in Beverly Hills we

got to keep this video rolling go get

another one out here come on excuse me

ma'am quick question for you have you

ever been broke before I have and what

line of business were you in I owned

hair salons so you were a business owner

I was but I sold it how much did you

sell your company for 255 million you

sold a company for over 250 bill I did

actually I go all over the world

interviewing the most successful

business owners could I get one quick

minute with you for the channel real

quick sure did you have a lot of money

when you started your company no I had

no money I had no money luckily my

brother had a little bit of money my

brother was one of the first employees

at Yahoo back in the day so he had made

a little bit of money but I had no money

but he offered me basically Sweat Equity

and said you know you run the business

and I'll you know and be the dayto day

and he had another job at the time I was

like so let me get this straight I don't

put in any money but I have 50% equity

which I thought was like that's a great

deal like yeah no I had nothing back

then did you raise a lot of money we did

75 million you raised 75 million about

75 million give or take yeah eight out

of 10 companies in today's world they

don't make it past 5 years oh I know

I've invested in a lot of those yeah

yeah what's the number one reason why

those businesses fail what I see in

general most businesses they're just not

paying attention to enough of the

details that are important and also like

I believe in like asking your employees

asking your customers like what's

working for you what's not and like most

people don't want to hear bad feedback

cuz it hurts and you're like you've put

all this money into this business and

you don't want to be told like something

you've thought is good isn't good but if

you can get past that and listen and pay

attention what's going on in your

business and what's working and what's

not working you know I just don't think

a lot of people even see it to be able

to correct it so in other words the

littlest things can make some of the

biggest differences huge I mean you know

how it is whether you're going into a

restaurant or your favorite coffee shop

you inherently whether you realize it or

not you feel better if everything's

taken care of you feel like there's

somebody in charge things are running

smoothly you're not waiting forever the

person at the front isn't having

attitude with you like you go to the

bathroom it's not disgusting like

there's a Ambiance that a business owner

can create to make you as a customer me

feel comfortable and I really like being

here they don't often know why you know

have you ever been in like a place where

someone pulls out a chair and they hear

that loud like Screech and you're like

why doesn't somebody fix that put a

little thing on the bottom of the chair

like it's drives me crazy but I'm I'm

lunatic like I will go into any place

and be like this could be so much better

you know so I think that's why to your

point I didn't know exactly the

statistics but yeah so many fail because

they're just not paying attention as a

multiple 9figure entrepreneur what was

the best financial advice that you ever

received I would say be really careful

who you get into business with and and

that was definitely an experience that

we went through as we were raising money

and we raised about 75 million you don't

want to raise money from the wrong

people and by the wrong people I mean

people who aren't in lock step with you

what you want to build what your vision

is it's like a lot of entrepreneurs I

think can easily make the mistake of

someone's offering to give them a lot of

money to invest in their company but

they have a different idea of what they

want and what the long term vision of it

is or you know what infrastructure is

going to look like or the if the CEO or

founder is going to stay like there's

all these things that come into play so

you have to really know who you're

getting into business with cuz again

it's a marriage and you want to make

sure you feel really good about that not

just take a check guys she sold her

business for over $250 million and we're

headed to go get our next interview

right now but before we do that I need

to drop some game for you guys see after

interviewing over a th000 Millionaires

and over 10 billionaires the one lesson

I've learned is there's only one

shortcut to success in and anything you

want out of life in business and your

career and finances and everything

that's mentorship and that's why after

building a multi-billion dollar network

over the last 3 years growing this

channel across social media to 10

million followers I decided to launch

one of the greatest entrepreneur

communities in the entire world called

the school of mentors we've already got

almost 2,000 members where every single

week the members in our community get to

hop on live calls with the Millionaires

and the billionaires that I interview on

this channel where they can ask

questions directly to people about how

to sell how to market and grow their

business how to create wealth in real

estate how to invest their money and

make it work for them how to negotiate

like a billionaire would you guys do not

want to miss out on this opportunity I'm

also hosting live workshops with big

entrepreneurs every week to learn and

Implement these skills in your

businesses to join the community go to

the link down in the description of this

video you do not want to miss out on it

but with that being said let's get back

to this video and go get this next

interview come on who am I here with

today Neil Batel and for those that

don't know what industry did you decide

to pursue a career in marketing are you

a business owner I am how long have you

been an entrepreneur for 23 years what

was the Turning Point getting into

entrepreneurship well I was 16 when I

was starting so there wasn't too many

options other than create your own

business if you wanted to make money

what was the most amount of money that

you've made a single year well our

revenue is in the nine figures a year

and for income I try not to make more

than four or 5 million a year Max in

distributions because I rather reinvest

majority of the profits versus taking it

so I take enough to pay for my expenses

the rest I invest into buying more

companies expanding hiring more people

Etc is just saying that I love about

marketing that a lot of people are

extremely good at what they do but no

one knows what they do what's a hack

about marketing that you could give to a

business owner in today's world that

maybe they have a great product but they

suck at building awareness the number

one highest Roi Channel right now in

marketing that most people don't want to

Leverage is influencer marketing but I'm

not talking about the people who have a

lot of followers I'm talking about the

people that are micro influencers

between 1,000 and 100,000 followers look

for ones that are relevant to your

product and service that have really

engaged communities hit them up they're

super flexible in how they take

compensation you can pay them commission

base a percentage of sales they'll go

above and beyond to make really good

content and promote your product it's

extremely profitable we see over a 30%

return on investment with micro

influencers so that's marketing game

from a nine figure entrepreneur right

there yeah that works out I love that

and why do a lot of companies fail in

today's world most people would say most

businesses fail because of lack of

capital I say that most businesses fail

because they're going after too small of

a Tam Tam stands for total addressable

Market you know someone may look at my

business be like oh nine figures that's

a lot of money well some of my

competitors do 18 billion a year in

Revenue so if you're after a really big

Market it's not hard to take 1 2 3 4 5%

of the market if you want to go after a

$10 million Market if you capture 100%

of it all you're making is $10 million a

year and that's just Revenue you want to

go after something really big and just

try to capture a small percentage of it

I love it how old are you now I'm 39 and

how old were you when you became a

millionaire 17 17 years old capability

at 17 I started my career when I was 15

and a 12/16 and I was helping people

drive more traffic to their websites my

first client paid me 5 grand a month I

made him 25 million in Revenue got three

more referrals that took me up to 20

grand a month and it just kept scaling

from doing really good work now did you

inherit the money no my parents uh my

mom was a teacher and my dad worked at a

bank did you go to college I did go to

college was it worth it no I would not

recommend anyone go to college unless

you're in a profession that requires you

to go to college if you had to start

from zero and you had one year to make a

million dollars and your life dependent

on it what would you do I would go buy a

business from someone who's retiring in

a boring ugly field like Roofing

Plumbing HVAC do seller based financing

and get a SBA loan so a combo of both

and grow that business and put in

technology like spreadsheets invoicing

and automate all the stuff they're not

doing get them better rankings on Google

uh also do their Google my business

profile get the reviews ratings and grow

the business but if you were to start

from zero how would you get the money to

buy that business you would seller based

Finance it so you say hey you're

retiring you're 6 years old you don't

want your hpack business anymore I'll

buy it from you I'll put down 2x profit

which I can get Bank fin in for and you

hold a note and provide the rest of the

financing will banks give you money if

you don't have any Capital yes they will

based on that business and the

government helps it's called SBA

financing wow they don't teach that in

school you know that right they don't

that's amazing most people who go to

Harvard right now aren't thinking about

private Equity or Venture Capital

they're graduating Harvard and saying

hey instead of going working for someone

I should just go buy one of these boring

ugly businesses that are owned by these

60-year-olds who are retiring cuz no one

wants her old ugly business that's

printing off millions of dollars in

profit one of the greatest transfers of

wealth that's about to happen that's

right you got amazing advice my friend

thank you so much for your time I

appreciate you you guys we just

interviewed a ninef figure marketing

mcal out here in Beverly Hills that's

got to be one of my favorite interviews

I've done because when I asked him what

he were to do if he were to start over

from zero and how he were to build back

his Empire and make a million dollars in

a year go back and rewatch listen to his

answer see these guys once they have the

mindset and the skill sets to build this

kind of we you can take everything away

from them and they will build a back and

build it back 10 times bigger great

interview out here in Beverly Hills we

got to keep this video rolling and go

get another one out here come on

excuse me sir question for you have you

ever been broke before hell no no and

what lot of business are you in I

want to tell you that but I ain't been

broke wait real quick I started a

channel on Austin I grew to 10 million

followers I've interviewed the biggest

business owners all over the world can I

get one quick minute with you real quick

what's up can I get one quick minute

with you it's one quick way go what line

of business are you in uh I'm in

transport transporting yeah you in a

trucking company or what yeah yeah trans

and how did you get into this business

what you know some someone told me about

it I was walking driving down the

freeway and I always seen these trucks

going down the freeway and I said man

transport is always always there it's

always going to be there no electronic

no robot or anything like that is going

to change it it's just going to be there

it's recession Po and people can't

replace it you can't replace it you

can't replace always going to be in job

for you looking for a job not a job but

but but but but maybe another business

to get into let me ask you this right

like at the company in terms of Revenue

not personal income what was the most

amount of money you made in single year

you want me to tell man and it's almost

the first the first of the year you want

me to actually put that on IRS just

Revenue not personal I I couldn't say

but is it safe to say there's a lot of

money to be made it's a lot of money to

be made and it pays my bills do you come

from a lot lot of money yes I do yes I

do my father's a king if you lost

everything tomorrow could you make it

all back oh hell yeah I'm a brother we

lost everything before so there's

nothing for us to get it back are you a

good salesman yes I am what was what's

your secret to selling consistency never

take not for answer how about

negotiating a lot of people struggle to

close deals you've closed some big deals

with some Heavy Hitters what's your

what's your negotiation advice man like

I said consistency everything is

consistency and PR being at the right

place right time you can take a piece of

a glass of water a bottle of water and

move it from place to place and it

changes its price but it's the same

glass of water that's game right there

love that my friend did you go to school

you went to college or no yeah

Elementary was good enough Elementary

was good enough so give him one last

lesson about businesses not taught in

school man you working me man am I

getting paid for this brother maybe we

have to cut it we have to cut it for you

you're ly get a mentor definitely get a

mentor because you don't have a mentor

you don't have no Direction you know and

find out his his bad moves that he had

made you can grow from you got amazing

advice my friend thank you so man

amazing thank you my friend likewise

thank you guys that is a wrap on today's

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next video