Patrick Bet-David hears people all the time wishing they had Buffet money, Bezos money, or Musk money. They think that with that kind of money, life would be pretty easy. If this you, you are thinking about this all wrong.
What you should be thinking about is, “I wish I could figure out how they think and how they process issues.” That process is what will give you the life you want, not just the money. This process is so universal, it doesn’t matter what industry you are in, you can use this 7-step process and make millions.
“I don’t look at an industry. I don’t care what industry it is. I think we put way too much emphasis into industries. This is how you got to think about it. What can I do in any industry? Everything is about condensing time frames” – PBD
If you are already in an industry you can follow along and see how it applies to you and if you haven’t chosen an industry yet, use this to examine potential industries.
7 Steps to Make Millions in Any Industry
Identify the Process
- Whatever the process is from buying a house, to ordering a cab, to sharing pictures online with your friends. There is a process that currently exists.
List the Steps
- List every step in the process. For buying a house – you look at the house you want to buy, you get financing, you make an offer, and you close the deal.
Eliminate a Step
- This is where the magic happens. See if you can take a step out of that process. How would the process function without that step? That is where disruption is born.
- Take the remaining steps and condense the time frame. Condensing the remaining steps will help streamline the process that is now missing one of the original steps.
Beta Test the New Process
- Find a small market and see how your new process functions. Where do improvements need to be made and how did the market respond to this new process?
- Take those results from your beta test and adjust your process. This is where you pivot your process to fit a specific need.
- Your beta tested and adjusted process is ready to be unleashed. Sell it to all the corners of your market but don’t forget to repeat these steps again and again to create exponential growth. Don’t stop once it’s out there. Re-examine these steps to make your process even better.
Next Steps: Pick two or three of your partners, download the PDF, actually apply this process, and see what happens. Pat can tell you for a fact, you’re going to have an a-ha moment.
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