No one starts out as a billionaire. Even the wealthiest people in the world had to start from scratch at the beginning of their business journey. And while there’s no surefire path to riches, there are some lessons we can learn from them.
In this episode of the Influence By Design podcast, Samantha and Tim talk about the lessons that can be learned from a billionaire who has started from scratch. Having been watching the show “Undercover Billionaire,” Tim shares some of his key takeaways from the show.
Samantha and Tim also discuss how anyone can start their own business, no matter how much money they have. They also talk about the importance of networking and why it’s so important to connect with the right people.
Being a billionaire isn’t easy. In fact, it takes a lot of hard work, dedication, and determination. But if you’re willing to put in the work, it’s possible to achieve anything you want in life.
This episode is packed with great tips and advice for anyone who wants to start or grow their business.
IN THIS EPISODE YOU’LL DISCOVER:
- The ‘Undercover Billionaire’ show concept (02:19)
- Recognizing that everyone goes through difficulties (06:40)
- The importance of connecting with the right people (10:46)
- How important is building your personal brand really? (13:05)
- Creating and nurturing relationships (15:04)
- The outcome of showing up authentically (17:44)
- “To be successful in business, you have to zig when everyone else is zagging.” -Samantha Riley
- “The people you connect with do not know who you are and what you bring to the table. It’s up to you to help them to understand.” -Tim Hyde
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WHERE TO FIND TIM HYDE
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Tim Hyde Snippet 00:00
Think about how you connect with your network and go, What is it that I’m bringing to the table if these people don’t know who I am, because that energy that we bring to the table can lift people to our level. And that’s great to be around. And it happens.
Samantha Riley Snippet 00:14
It’s really important to still show up as who you are. And I think that what’s really important here is to make sure that you’re filling your cup to make sure that you can show up in the best version of yourself.
My name is Samantha Riley, and this is the podcast for experts who want to be the unapologetic leader in their industry. We’re going to share the latest business growth, marketing, and leadership strategies, as well as discussing how you can use your human design to create success in business and life. Inside and out. It’s time to take your influence, income, and impact to the level you know you’re capable of. Are you ready to make a bigger difference and scale up? This is the Influence By Design podcast.
Tim Hyde 01:13
gotten me entirely. But it is it is wonderful to be back. Sam, I’ve been traveling quite extensively over the last last month and you’ve ably taken the reins in my stead. You know, but it is good to be back and look last to share monster share.
Samantha Riley 01:30
Absolutely. And you haven’t been forgotten. Actually, lots of people have said
Tim Hyde 01:37
what was that guy’s name again?
Samantha Riley 01:39
Not at all. today. I’m really excited about today’s episode, because you’ve been watching a show called undercover billionaire, which I actually haven’t seen yet. You sent me the link about a week ago, and I’ve been meaning to watch it and have been too busy catching up on silly reality TV. In all fairness,
Tim Hyde 02:00
gotta get your fix. Gotta get your fix.
Samantha Riley 02:02
Uh, yeah, absolutely. But I will watch it this week. So I’ve been really looking forward to it. And today, we’re going to talk about that the show’s called undercover billionaire. And you have been sharing all sorts of great takeaways from this show that we want to actually talk about today.
Tim Hyde 02:19
That’s right. So it’s a discovery show thing, so you can find it on YouTube. That’s something I was recommended that I watched. And I watched the episode about Grant Cardone. And I’ve always, you know, full credit to grant but I’ve thought grants a bit full of himself in that American bravado kind of way and full credit to him. He’s got some incredible runs on the board and done billions of dollars of deals. But the interesting thing, I guess, in the context of how this was referred to the show was referred to me two things a, the friend who recommended this had listened to our episode A little while ago about how what would we would do if we would restart our business from scratch. And also, of course, there’s a lot of concern. And, you know, it’s fear in the market at the moment about recession, and all that sort of talk as well. And what that means. And well, let me give you the premise of the show, the premise of the show is that billionaires and will close to billionaires, basically, you know, for 90 days, they given his challenge to build a $1 million or so a business that has a valuation of $1 million within 90 days. Okay, so literally starting again. Now, here’s the twist. They’re given a jeep, the unit, an old ute, and they do even a mobile phone, not even a fancy cell phone or an iPhone. It’s just a flip phone with numbers in it. Yep. And $100, Bill, and pinjaman. Alright, and they given this challenge to build this business within 90 days with a million dollars.
Samantha Riley 03:52
And they have it am I right in that they they can’t use their own name. Yeah. So
Tim Hyde 03:56
they can’t use any of their connections. So they can’t suddenly call up all their rich, wealthy friends and say, invest in his new venture. And off we go. And they can’t even use their own name. And during the course of this thing, they can just use their accumulated knowledge on how to build a business, and was really interesting to see what people would do and how they would go about it. And we want to share some of those on today’s episode.
Samantha Riley 04:23
Totally, and I think it’s when you started talking about this, I really liked the idea or the premise of this because there’s a lot of people that say, oh, but you know, it’s okay for that person. They’ve got all these amazing things. But when you’re talking about it, really what I got from you, and like I said, I haven’t watched this was that stuff goes wrong for everyone. It’s not easy sailing for anyone. You know, you are going to get knocked down. You aren’t going to have to get back up. And when you do stick it out that good things will come.
Tim Hyde 04:58
Yeah, absolutely. And I am You know, my respect for, for grant now is is gone through the roof, you know, and I respected him for his accomplishments and other people, you know, of that ilk. But to see someone who is so accomplished, go through all the massive range of emotions, that you know that we as new businesses and startup businesses and even when we’re really reasonably successful, you know that we have days where we wake up, and we don’t feel like going to work. And we have days where we go, oh, my god, that was so close. And all that work I put into winning, that bit of business hasn’t come to fruition and Oh, my God, I hired the wrong person, I made a silly mistake. And one of the very early things without giving away too many spoilers in the show, you know, he sells his truck for two grand and hoping that he can borrow this truck with the connection he’s making. We’ll get into that a bit more in sec. But he borrows his truck. And then of course, all night sells his truck. And he’s live for that transport. Guys, Ash, you know, wrong decision. I invested in this thing that didn’t pay off. And it’s actually set me back. Yeah. And I think as we build our businesses, we all go through this and, and even you know, that uber successful it go through this as well, and they make wrong decisions. And it’s okay. It’s how, you know how quickly you can bounce back for that, that gives you this resilience and gives you this growth, you know, as you go forward, I think for anybody, the idea of building a million dollar business worth a million dollars in 90 days, starting with $100. You’re crazy, right? Absolutely. That’s full on. And he’s gonna be like, yeah, that’s,
Samantha Riley 06:40
yeah, yeah, yeah, totally. What I love about this, and we will get into, I guess, the biggest takeaways that you’ve got from this and dive into this further. But you know, one of the things that I think it’s really important to mention, before we even get into this is that everyone goes through these emotions, everyone makes decisions that don’t turn out quite the way they expected. You know, everyone has those moments where they’re just like, Oh, my goodness, I should just give up like, I’m done. And I think that it’s, what’s the word I’m looking for? It’s, it’s, it’s almost can’t think of the word I’m thinking of, but almost poisonous to think that no one else has those thoughts. Because thinking that you’re the only one that’s going through these feelings can really set you back, they can be really disempowering, rather than realizing, okay, everyone has these thoughts? How am I going to tap into my resourcefulness? To be able to get through this?
Tim Hyde 07:43
Yeah, absolutely. Absolutely. Any you do, you’re not alone in what you’re going through. Right now. You know, everybody in business, right now, at every scale is been through the exactly the same things that you’re going through right now. And, you know, here’s the surprise, most of them have come out the other side.
Samantha Riley 08:02
Yeah. And for all of those bad, let’s call them bad times, even though I’m not a massive believer of labeling those, but let’s call it the not so good times. There is also at the other end, they’re really, really good times, and that we ride the wave of the entirety of all of these emotions, feelings, you know, just all the things that we actually do in our business as well. And I think why I liked this conversation today is people are already you know, we’ve sort of we’ve come through COVID, we’ve made it out the other side. And sometimes it feels like, just, you know, because there was because it was a lot to handle there was, and I’m not just talking about the business side, I’m talking about the emotions, like it’s been tiring. And now you know, we’re heading into a recession. And, sure, you know, it may or may not impact you as much depending on what’s going on. But it really is about handling your, your emotions, your energy, your state, and how you’re showing up. Because I think that right now you have to zig when everyone else is zagging. And if people are already checking out saying I’m tired, I don’t want to do this, then you following suit, and doing the same thing is going to really set you back that this is the time I believe that you really need to be stepping up and really stepping forward, and maybe having a look at what you’re doing in a slightly different way.
Tim Hyde 09:37
Yeah, there is a I mean, I’ve had this this rule for a long, long time, is that you don’t have to be to the point and we’re going to talk about the hustle. More detail, but you don’t necessarily have to be doing that much more. You just could have been doing a little bit more than everybody else. And that will make you stand out and we will talk about Z When everyone else is zagging, you know, do something that someone else is not. So if everyone else is stepping back and deciding that, well, we’ll revisit this next year. And we’ll look at that, you know, in 2023, or 2024, or later or whatever. You take a look at it. Now, that’s just going to give you that a little inherent advantage going into next year, and a little bit of advantage over what your competitors are doing.
Samantha Riley 10:25
Yeah. So what you’re saying if I’m, if I’ve got this right, is it’s not necessarily about doing more. And it may be about doing more, but it’s more about knowing, you know, what is your what is your next step? What is the goal that you’re trying to achieve? And making sure that you’re in full alignment to get the outcome that you’re looking for?
Tim Hyde 10:46
Yeah, absolutely. So one of the one of the I mean, a couple of takeaways that I want to share with you. And I would encourage you to go and watch it, because I think it’s quite an insightful show. And there’s three of them for this season, I believe. I’ve just watched the grant, the most of the Grant Cardone, one at the moment. But all three billionaires, their first thing that they do is in their new town, is look at who is the people with the we need to connect with other people that we need to surround ourselves, and how can I make that connection? First and foremost?
Samantha Riley 11:21
And I think this is something actually I don’t think I know, this is something that we’ve talked about on this show a lot about who’s your inner circle, who we connecting with? Who’s your network, who were the people that surrounding yourself with? And for me, it’s always been when I talk about building my businesses, the number one thing that I’ve used are the foundation of building all my businesses. So for me, it’s nice to have that, you know, I guess someone else is doing it to go, actually, I’m so glad that, you know, it wasn’t just lucky for me that, you know, this is the way that people build their businesses.
Tim Hyde 11:58
Yep, it is. And it’s really obvious, I think you are the sum of the five people as they as they say. But that’s that’s also about the number of opportunities that you can create for people. And so if you can connect with the right people and be like a little bit shameless about it, reach out to the most influential person, you know, and add them to your network. And then find someone more influential than that, and then add them to your network and give it a go. Right? They’re only going to say no, but if you don’t ask the answer is automatically No. Yeah, absolutely. Sometimes surprised. They might say, yes.
Samantha Riley 12:37
We just talked about for a second, though, the intention when you’re reaching out to people, because this is something that, you know, one of the first things I said to you, when we were chatting about this before we started recording, is I think that most people understand this concept of being connected to let’s put it in air quotes, the right people. But there’s people who miss the opportunity by thinking it’s just about reaching out and asking for something, you know, it’s all about me.
Tim Hyde 13:05
Yeah, absolutely, you’ve got to come from a position of give. And we’ll drill into that a bit more on this in a second. But before I do that one, also talk about, you know, the second takeaway for me was around building your personal brand. The people you connect with, do not know who you are, and what you bring to the table. So it’s up to you to do it. One of the things I like about the way grant did it literally, again, he’s out there hustling. He’s on the street, saying, hey, come into this store, let me show you how I can build value to you. Alright, he calls people up and says, Hey, my name is Louis Curtis. Obviously, that’s his assumed name, and says, I’m new in town. And I’d love to connect with you and learn what you’re doing. Alright, looks like you’re doing some great stuff. Are you open to having a conversation with me? So it’s really sad sort of putting himself out there. Now he hustles hard. You know, you’ve got to sort of manage your own personal energy, and then 10 attempts at how much you can do that. But again, you don’t have to necessarily make 1000 phone calls a day. 1000 knock backs. But if you are able to do that, even if you made 100 phone calls a day, I could almost guarantee you by the end of the week, your business will transform. Yeah. Right, just by saying, Hey, I wanted to reach out, you know, this is who I am, this is what I’m doing. I’d love to be able to connect with you and learn more about what you’re doing and see that some way that I can add value to you. And, you know, that’s about sort of bringing in not just your personal brand, I mean, that sort of echoes who you are as a person who gives first in terms of your personal brand, but also I guess, plays into this idea of proof of concept as well. Right? What is it that I can bring to the table to show the value that I can bring to you and demonstrate that value so that then I can ask for something in return. Yeah. And I don’t think many people come and do that.
Samantha Riley 15:04
No, I think we’ve talked a lot about on this podcast about sort of playing the long game. Now, what is really interesting about this, because I think about it, as you know, the long game, this is part of your brand, and it’s about creating relationships or nurturing relationships for a long, long time. He’s taken this to a whole new level by doing this in 90 days. So it actually has almost called me out, in that you can speed up the process of that long game if the intention is still right.
Tim Hyde 15:39
Yeah, absolutely. These are things that you should be almost done within 60 days, because it gets COVID. But 10 days, it gets COVID and takes them out for two weeks. You know, he’s kind of almost done this in 6065 days that he’s gotten to this, this objective. But really, again, it comes back to that personal brand and being you know, authentic to who you are. Right. So Grant Cardone is a serious hustler. He will ask the question, he will ask for the business. Why don’t want to do this is what I can bring to the table. This, you know, and you know, but that’s part of the brand that he is, he’s all about the 10x. And he’ll do what it takes to get there. Interesting thing, you know, the Rock says the same thing, no one will outwork me. You know, what is that level of that, that you’re comfortable with it you can bring to your business that stands you ahead of your competitors, that you just asked the question, and it’s actually made me really think about, you know, how I connect with my prospects as well. Right? What do I do to demonstrate and give first, before I ask, you know, do I have a proof of concept product? Do I say, hey, look, let me work on your account for 30 days, right, and see what we can do with it right. And if it doesn’t work for you, no harm, no foul, is back. It may involve a security deposit, or blah, blah, blah, blah, whatever. Okay. One of the things that grant does, he says, if you pay for the advertising, I will do all the work. Because that’s all that’s the only thing I’ve got, I’ve got my effort and enthusiasm. And interesting information, again, from personal brand perspective that really connected with the people he was trying to build relationships with. Interesting, okay, so again, think about how you connect with your network, and go, What is it that I’m bringing to the table? If these people don’t know who I am? Am I flat and monotone? Or am I upbeat and excited. And so what we can do, I’m really excited about this, because that energy that we bring to the table can lift people to our level, and it’s great to be around when it happens.
Samantha Riley 17:44
I think that I want to sort of put a caveat in here that it’s really important to still show up as who you are. So, you know, if you’re someone that isn’t like that, I almost think that that is it’s not authentic, because it can it can come across really fake. And I think that what’s really important here is to make sure that you’re filling your cup to make sure that you can show up in the best version of yourself in that if you’re feeling you know, happy if you’re feeling excited. If you’re feeling positive, then your own authentic version of that will come forward.
Tim Hyde 18:24
Yeah, it is very much about being authentic to who you are. But also making sure that you’re someone that people want to be around. Yeah. Yeah. And what is it that you can bring to the table that the other person needs and wants out that energy? And you’ve got it in abundance? Bring that to the table? If that’s proof of concept, bring that to the table? If that’s wisdom and experience, bring that to the table, right? And offer it, you know, almost unashamedly right, to the people that you’re trying to connect with.
Samantha Riley 18:58
Yeah, I love this so much. I love this so much. So of course, we’ll put the link to the show in the show notes. So you can go and watch it, I will definitely be going to watch it as well. But Tim, obviously your biggest takeaways were around the connections. And business is all about people. It’s around proof of concept. So proving what you can bring to the table. And number three is really building your personal brand. But what I’d love to know from you is from watching this, what is something that you have changed in what you’re doing or you have decided that you will be changing because of this.
Tim Hyde 19:39
Or I might have to come back to you on that once I say and watch this space, because it’s still there’s a lot of things and when so many takeaways for a start, right? We talked off here about the hustle that you know what does that hustle look like and hustle looks like different things for everybody. That was certainly one of them to go Will you know, am I spending my time on the right things that will actually build my business? Am I connecting with the right people? Are there people in my network that I need to say thanks very much. But you know, you’re not adding adding value where I want to go and by the same token, also disconnecting with people where I can’t add
Samantha Riley 20:16
value. Yes, yeah. It’s a two way street, right?
Tim Hyde 20:20
It’s a two way street. That’s absolutely a two way street. You know, I need to know that I can bring something to the table as well, if I want something in return, and it is that two way street firm. So
Samantha Riley 20:30
love it. Love it. So I will definitely be going and watching this show. Like I said, I’ll pop the link in the show notes. But we would love to know, if you watch it. What are your takeaways? And if this is something that has added value, and has interested you, we would love for you to share this episode with your network so that they can get their own experience and their takeaways from this episode. But I think probably the biggest takeaway for me, Tim, from having this discussion with you, both on air and off air, is that, you know, stuff does go wrong. And the people that are successful are the people that understand that, that doing something that doesn’t give you the outcome you’re wanting is just data. It’s just I can just take that data and do something different with it. It’s not about getting so caught up in oh my goodness, I can’t do this. And really being resilient and being resourceful and sticking at it. Because if you do stick at it, good things will come.
Tim Hyde 21:29
Samantha Riley 21:30
Thanks so much for hanging out with me here again today. It’s been great to have you back on the show, Tim.
Tim Hyde 21:35
It’s been really good to be back. I’ve missed it.
Samantha Outro 21:38
Thanks for joining me for this episode of the Influence By Design podcast. If you want more head over to influencebydesignpodcast.com for the show notes and links to today’s gifts and sponsors. And if you’re looking to connect with other experts who are growing and scaling their business to join us in the coaches, thought leaders, and changemakers community on Facebook, the links are waiting for you over at influencebydesignpodcast.com