The Day I Stopped Shining My Shoes & Ironing Clothes

14-Dek, 2020
105 541 Ko‘rishlar soni

Patrick Bet-David shares a story of how to determine your value in the marketplace and what you need to start doing if you want to increase it.
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  • Automate time in tasks you can buy people for example dont do a task that's worth 8$ 2 hours. It doesnt worth it. If you think your worth is more than that. Buy your time back.

    NightstarNightstarKun oldin
  • "the last time I got an oil change was at 28 years old" ... So, you either change it yourself or you let your engine die?

    Patient RagePatient Rage5 kun oldin
  • I understand what he’s talking about, but if u enjoy shining ur own shoes, shine ur own shoes!

    Ab OAb O8 kun oldin
  • I think it is nice to present the concept of opportunity cost. However, there could be risks associated with your decision to focus too much on your specialty. Given the example presented of taking care of clothing, the cleaner could damage your shirts and Tommy DeVito could mess up your shoes. This situation might not be a big problem financially but it could put you in a bad state of mind. If you find good people, you will be in good shape. Specializing too much can also make you stale. It is good for creativity and mental health to get exposure to different tasks; even if it has to be outside of work.

    Tyrone SundeTyrone Sunde9 kun oldin
  • Yes but it’s not a job if you love it 😉 I learned not everything can or should be quantified.

    Supreme PotentialSupreme Potential10 kun oldin
  • Well some of the flies I make are around 30 bucks each and I can make one in 15 minutes so I'm worth 120 bucks a hour. However I work for 32. And I would say my personal time is worth 5000 dollars a day because I don't have alot of it. As for 250 dollars an hour sure lots of people are worth that but directions don't build canoes. I can't tell ya how many people forget that because they think without directions there is nothing to do, but task masters don't need directions.

    matt buggmatt bugg12 kun oldin
  • Interesting perspective.

    Harry van der VeenHarry van der Veen12 kun oldin
  • *The Pareto Principle or 80/20 (90/10) Rule.* I would go further: work from home (doing something you like). Shave, shower, change clothes twice a week or 3 times every two weeks, or when you go out in public. No suit or formal attire. No commuting or getting stuck in traffic. Shop online and have home delivery. Don't hang out with "friends" drinking, smoking, listening to loud music and talking nonsense. Don't be ashamed of being a recluse, hermit or hikikomori, because it's fashionable these days. But do get up from your chair and exercise every 30 minutes. And, except for the first and last activities, I HATE engaging in all of them.

    toadytoady12 kun oldin
  • I really don't subscribe to this attitude because as soon as I see someone shift away from meditative activities, they usually stop growing as a person.

    Ben TaitBen Tait12 kun oldin
  • Ella dice que falta algo en la relación 💞💘(Haz lo que dices) 🚻💦💖 #RelacionesdeParejaPolaridad 💖💖💖 💑💑💑

    Relaciones de pareja, polaridadRelaciones de pareja, polaridad13 kun oldin
  • i need your help. you could earn a lot.

    achu naryanachu naryan15 kun oldin
  • This guy has literally turned into a joker

    Play The GamePlay The Game16 kun oldin
  • Nahhh you don't know and I ain't helping u or correcting

    TCS Co. Insured & lincenced tarza constructionTCS Co. Insured & lincenced tarza construction17 kun oldin
  • Guys... All this is called 'opportunity cost'

    Faisal KabirFaisal Kabir17 kun oldin
  • My nutrition is a big part of my business. I sincerely enjoy everything about the process: grocery shopping, cooking, prepping, eating. I even find tranquility while doing the dishes and will at times opt for hand washing rather than loading the dishwasher. But lately I’ve been having this exact discussion in my mind. I’m motivated now to sit down and do all the math on paper like Patrick suggests. I guarantee there’s 10 hours a week that I can free up by hiring someone to do all the food stuff for me. As much pleasure as I take in doing these things, I know that the man I’m working on becoming doesn’t buy his own groceries or do his own dishes. At some point, I’ll have to make the jump from doing these tasks myself to outsourcing them if I’m to become that man. Perfect timing on this video. Time to find an assistant.

    Edward AdelmanEdward Adelman18 kun oldin
  • Pat, you have a great style in watches as general Dwight Eisenhower might only confirm. But please, do not purchase such a gem if you can not afford a shirt with looser sleeves. It is sad to see you like that, because you are a great guy. Look how it is being worn . Please be your best as always. We need you!

    Classic Investment WatchesClassic Investment Watches20 kun oldin
    • And thank you for your valuable work in these dark times.

      Classic Investment WatchesClassic Investment Watches20 kun oldin
  • Amen

    Joe MJoe M21 kun oldin
  • My goodness, there is a wrinkle in your tie😁

    Eva NajdychorEva Najdychor22 kun oldin
  • Great word!!!

    Jonathan Graham IIJonathan Graham II22 kun oldin
  • Sheriff Andy Taylor said this more than 50 years ago. Aunt Bee, just call the man. Call the man.

    Micheal WilliamsonMicheal Williamson23 kun oldin
  • This guy is such a deutsch and doesn't even know it.

    ed blaired blair24 kun oldin
  • I value self reliance. From washing my Jeep to renovating my home. Do it all.

    supreme actionsupreme action24 kun oldin
  • Well Patrick, life is very complicated where you could have many variables taking place, and doing the job that pays more is just not available, it is not possible because of other effects taking place. I consider myself very valuable in the marketplace, but I have not found an opportunity to shine. I am a Machine Learning Engineer, and Electrical Engineer, graduated with honors (not that it means much), and still I am unemployed begging to be underemployed just to pay back the debts I owe. So, you see, sometimes life does not give you what you deserve.

    Hassan FaresHassan Fares25 kun oldin
  • :)

    Dallas LondonDallas London26 kun oldin
  • Awesome!!!

    NKane CosmeticsNKane Cosmetics27 kun oldin
  • What is quality time to you, when do you spend time deeply thinking, when do you do things you truly enjoy. Sounds like ironing and shining your shoes is very important to your money making ability. p.s. making money your life, money is your god, how sad for you.

    Psalm40Psalm4027 kun oldin
  • Million Dollar Potential in Ruvol I have invented a Board Game [still unpublished and not yet out in the market] that is guaranteed to be far more challenging and exciting than CHESS. I called it “RUVOL.” Over time, Ruvol will surpass chess as the “Number One Board Game in the World.” Why am I so sure about this? Because I am an avid chess player myself. The weakness of chess is it always starts in fixed positions that the opening moves become “memorizable.” In fact, not a few have so mastered the moves that they can play against their opponents “blindfolded.” It is for this very reason that the great Bobby Fischer introduced his so-called “Fischer Random Chess,” where the starting position of the pieces is “randomized” to make the memorization of openings impracticable. Fortunately, it is also for this reason that I invented Ruvol where “every game” has been calculated to be a challenging one to play. HOW IS RUVOL PLAYED? Ruvol is played somewhat like chess. It is played by two players. It uses a board that is rectangular in shape but contains more number of squares than chess. It has equal number of pieces on each side of the board, where each type of pieces moves in distinct ways. However, if the way to win chess is to checkmate the opponent’s king, the way to win Ruvol is to be able to cross a designated line. But there’s one big advantage Ruvol has over chess: The Ruvol pieces don’t have a fixed position at the start of the game. It is the players themselves who dictate the starting position, depending on the strategies they have planned before the game starts, making it impossible for any clever player to memorize the opening moves. A MILLION DOLLAR POTENTIAL IN RUVOL! The people who play chess will be the same people who will play Ruvol. In my Google search, I learned there are around 800 million chess players in the world. These 800 million players comprise the “Total Potential Buyers” of Ruvol across the globe. At an average profit of just US$3 per set, the “Global Income Potential” of Ruvol then is US$2.4 billion. Assuming only 1% of it will buy each year, the annual global potential sale of Ruvol is US$24M. I AM LOOKING FOR AN INVESTOR! For the reason that I don’t have the resources to publish Ruvol on a global scale, you might be interested to have the exclusive right to manufacture and market Ruvol globally under a “licensing agreement.” Or better yet, just “BUY MY COPYRIGHT” and Ruvol is entirely yours. Email me at: Thanks and God bless! RODOLFO MARTIN VITANGCOL The Ruvol Inventor

    Rodolfo VitangcolRodolfo Vitangcol29 kun oldin
  • This is for a man that made it already, if your a young man and just finished college or start your career!? Your time is worth nothing !!

  • Back in 2018 a CEO of an Fintech invited me for an interview I went and I saw he was doing bullshit gardening so I ran away

    Surendra ShekhawatSurendra ShekhawatOy oldin
  • Holy shit this was dumb

    A GA GOy oldin
  • how would you calculate the answer to “how much are you worth?”?

    damiandamianOy oldin
  • Nothing wrong with shining your shoes and such but the message is clearly stating the importance of your time. Like Garyvee says Focus on what you're good at.

    Rob1PercentRob1PercentOy oldin
  • 12/22/20 ....Love your hair like this, please keep this style....don't do the shaved look it does not look good on you....:) just sayin....

    Dallas LondonDallas LondonOy oldin
  • You are missing the point. If you are earning $200 per hour that doesn't mean that you are earning this all the time. There are times when you want get any work to earn $200 per hour so what do you do when you are not doing anything? Answer: iron your own shirt or do the work that you would otherwise have to pay somebody to do it for you. This is saving in my books. If you are fully occupied to earn $200 per hour then it makes sense to hire somebody to wash and iron your cloths, because it is silly to do these things when you have something better to do by earning more than what you would otherwise pay for that time. In Economics, there is something called "opportunity cost" and this comes in to the equation when making such decisions. It basically states that: "Understanding the potential missed opportunities foregone by choosing one investment over another allows for better decision-making."

    John AliJohn AliOy oldin
  • To my own knowledge the best way I have ever succeeded in forex trading is by trading with a good account manager, my account have been able to grow to $20,549 within a month through the guidance of a good account manager.

    Jassi JacksonJassi JacksonOy oldin
    • I thought of investing my money in forex 2018 but my friends discouraged me. Is it safe investing in it now? And please which is the best boker?

      Jassi JacksonJassi JacksonOy oldin
    • I thought of investing my money in forex 2018 but my friends discouraged me. Is it safe investing in it now? And please which is the best boker?

      Jassi JacksonJassi JacksonOy oldin
    • Speaking of forex trading , its the best business in the world right now as far as I am concerned. I know about a couple of friends who make a whole lot of money trading the financial market.

      Lt HestilowLt HestilowOy oldin
    • Forex trading has given me a good enough reasons to keep investing because it makes so much profit for me

      S.g MildredS.g MildredOy oldin
    • Actually trading with an experienced expert is the easy and best way to get started in the forex market. Indeed learnt that In a had way 😰

      Bright DavisBright DavisOy oldin
  • I know a multi-millionaire, business owner(my former boss) with manufacturing facilities all over the world and roughly 1500 employees. He is easily worth over 100 million dollars. He had a stage built in a section of his main warehouse where his office is located for him to practice with his band. He decided to do the vinyl flooring himself after the contractors were done. When I saw this, I thought to myself that this guy could pay anyone to do this job for him but here he is doing this himself. Later on that evening I told this story to my wife and asked my wife why she thinks he did that and she responded: "It's the challenge" Pat, I'm not sure if you could relate to that. Can a highly successful business person find a challenge in something like this?

    Kurt SKurt SOy oldin
  • Now go home and get your fxxxing shine box

    EDDOEDDOOy oldin
  • 2:38 Talks about “buying your time back” while *literally wearing 2 watches* 😆

    hellohelloOy oldin
  • If you have the right connections and family that was worth over 1 million. Hahem all these self made guys never disclose that. How many people have rich millionaire uncles like him? .01%

    leodan_007leodan_007Oy oldin
  • Pat yes!!! Thanks for the video

    peter fonteinpeter fonteinOy oldin
  • You're so right ✅ but it's so difficult to let go of the small things...

  • Great video and great advice! Yes, money buys you time in every scenario if you look deep enough.

    Pale AmigoPale AmigoOy oldin
  • You already know this stuff but pat puts it across so well....and you need the reiteration. Gotta make it stick. Thanks Pat.

    K PK POy oldin
  • Очень полезное видео, спасибо)

    Андрей АлексеевАндрей АлексеевOy oldin
  • This only makes sense if you have more money than time. On the flip side, a penny saved is a penny earned. Why pay a premium for services that you can do yourself? Then take the money you have saved and invest it and one day you won't have to work anymore.

    spoonman73spoonman73Oy oldin
  • word

    ofentse ratlhaaofentse ratlhaaOy oldin
  • The law of comparative analysis in Econ 👌

    Diego GodoyDiego GodoyOy oldin
  • You can tell Pat was in the military because I still feel good when I iron my clothes.

    Lord HokageLord HokageOy oldin
  • Money money money money but no rest no peace no God no life

    Heavenly JerusalemHeavenly JerusalemOy oldin
  • So freakin’ true. Guys that prefer to cut the grass and change their engine oil are not valuing their time.

  • Powerful - I'm going to have to reflect on this and implement it where I can.

    JoelJoelOy oldin
  • The fact that people attribute their worth to monetary values is a real sad reality.

    Tony TannerTony TannerOy oldin
  • Jew

    IanIanOy oldin
  • Some old Army habits die hard I see. Sometimes it is the small things, the pride in shining one's shoes or ironing a shirt, it's very gratifying.

    GoNavyAT2GoNavyAT2Oy oldin
  • Now if I can find someone to shave, crap , piss, shower for me that takes lots time out of my day! Just sayin...

    Tony MartTony MartOy oldin
  • I get what you mean. For me time spent going to and from cleaners twice would be longer than just doing the ironing myself. Same with shoe shines. I guess I need someone to do it for me :-)

    OpusTravelsOpusTravelsOy oldin
  • Bitcoin is the ultimate tool to buy your time back.

    BittrioBittrioOy oldin
  • Great analogy

    Randy HendrixRandy HendrixOy oldin
  • I need a friggin’ support team!

    Davy PigDavy PigOy oldin
  • It’s called comparative advantage, a well known and meaningful economic principle. It was originally used to describe why nations trade with one another.

    frontrowtennisfrontrowtennisOy oldin
  • This is an easy question. I'm worthless

    JosephJosephOy oldin
  • God bless America 🇺🇲

    Angelo NealAngelo NealOy oldin
  • Interesting concept, but everyone needs down time. I’ll protect that down time to do things I enjoy - including DIY car maintenance and ironing.

    Speed RacerSpeed RacerOy oldin
    • Whatever floats your boat.

      BabaregiBabaregiOy oldin
  • This is gold!

    Sam SchnitzlerSam SchnitzlerOy oldin
  • The day I stopped shining my shoes and ironing my clothes I went down in value and I'm still there!

    Tony MartTony MartOy oldin
  • My dad has been throwing away his socks and underwear for the last 30 years. He wears them once, then throws them away. It used-to bug the heck out of me. I finally had to know why he was being, in my eyes, "so wasteful". He explained to me... That it costs more for him to wash his clothes, than to but new socks and underwear. A pack of socks is 10 dollars. A pack of new underwear, also 10. Washing and drying was gonna cost him about 10 dollars, and he also has to store the dirty clothes somewhere.. Plus, it takes a half hour to an hour to do laundry. Meanwhile he could be doing his job, and making around 100 to 150 an hour. . He's rather spend 20 dollars, and go make 120, rather than waiting time and running around in used clothes. 🤯🤯🤯

  • What about us that doesn't have the right team with us?

    Luis BinderLuis BinderOy oldin
  • And then there are all the things we do that equate to us throwing our time away. Sigh.

    Richard TsengRichard TsengOy oldin
  • I fucking hate ironing

    WazWazOy oldin
  • Is he another Tai Lopez selling the American dream. Here in my garage with a super car and books I never read. Do as I say; not as I do. The secret to mega success is to sell the dream of mega success.

    Jake CJake COy oldin
  • Pat 2 questions: how much do you think is a good number to be worth per hour to start hiring others to do all those things for you like running errands; Also don't you think that for a guy like you it is smarter to fly private vs commercial to buy back your time?

    Ruvim TereshchenkoRuvim TereshchenkoOy oldin
  • So....spend money you could otherwise have saved to pay for things you are capable of doing ? 🤔.... 👀..... I listen to this guy a lot because he knows a lot about wealth management but.... I really don't believe cleaning my own shoes and ironing my clothes is what's keeping me broke. If the whole point is to have the time to do the things you enjoy , and he did mention he enjoyed doing those things, what's the point of this video ? Maybe I'm just too dumb to get it. And I'm ok with that. Lol

    TheTwinstaarTheTwinstaarOy oldin
  • This video is excellent thank you sir

    William KrethWilliam KrethOy oldin
  • You talking to us time is money, money is time. You know we with money, we want give our life for what we believe in. I know that you understand that and that is going on now in America.

    Sovereign PresentSovereign PresentOy oldin
  • What's this bullcrap??? You said that you ENJOY these things!! Yet, you decide to not do them because someone said you should work instead?? What sort of message is that!? hahaha You're worth whatever per hour during working hours... outside them you're worth 0 per hour e.g. when you iron your clothes, take a shit, go to sleep, take the lady or the kids out... so might as well do the chores.... it would at least save you money losses on hiring services during these unpaid hours. Unless you somehow work without any rest to keep a constant influx of 200 dollars per hour that requires you to actually do something every one of said hours. To most, a 24/7 $200ph job is impossible! We all work a certain amount of time and we have time to spare for "things".

    Shakw Makw!Shakw Makw!Oy oldin
  • Because sometimes it is not about the work, it is about the things you love to do. Otherwise you are just working for your money and not money that is working for you.

    autarch kylanautarch kylanOy oldin
  • He loves his time so much he is wearing two watches 🤣

    Don DPDon DPOy oldin
  • The perk when you live in a society where finding a cleaning service is more time consuming than doing it yourself.

    Ladida386Ladida386Oy oldin
  • Depends, usually about 7 million for each birth certificate (that's for us citizens, others maybe less)on the stock market, and yes,.you are.stock, or.chattle... other than that you are worth a lot more and that can't be expressed in material values. While others are worth...less...pieces.of'''s, criminals, the human race. That pretty much sums it up. Cheers.

    Florin Di NikolaFlorin Di NikolaOy oldin
  • Not shining shoes and ironing shirts is only for executives and entrepreneur. Most blue collar people do their shining and ironing because it's better than being lazy watching TV. lol

    Revealing The TruthsRevealing The TruthsOy oldin
  • That's realy sense sir, but ıf ı love one job it doesen't matter for me if its 200 dollars for hour job or 5 dollars job ı'm doing it

    Tolga GencogluTolga GencogluOy oldin
  • Your team says you charge 20 to 30k an hour, or 500 for one question. Remember when you helped the little guy? You champion for small business, but charge 20k an hour? Lmao

    Gypsy OutlawGypsy OutlawOy oldin
  • true

    MidNightMidNightOy oldin
  • When you are worth it you dress not to impress anymore.

    Jonathan BrottoJonathan BrottoOy oldin
  • Prejudice is what we all inconsistently have? ... let's think and reflect a moment ....even being true that saving time is a great idea, we don't need other reason like avoiding "doing a 18 dollar hour job" ... you know... I don't feel less motivated or strange or shame at all.... buy the way, everytime I can help the cleaner guy of a restaurant to clean/organize my table for example, I will actually be proud to be helping other person and being cooperative... If I fix my own car, I will be happy doing it... if I wash it or wash my clothes, good feeling again.. Of course, thinking about the time, is better if I study or etc (if I'm not that tired) ... But it doesn't matter at all if I am doing a job of a simple worker... I respect the in the exactly same way: a teacher, a director of the school, the cleaner, all the staff... I would never be shame of doing a task worst payed than mine... So, answering: why are you doing a 18 dollar hour job? here is why: Why aren't you? Are you in shame? What is the point?

    Gui AugustoGui AugustoOy oldin
  • Gr eat advice really hit home that 👍👍

    Ninja UnknownNinja UnknownOy oldin
  • Patrick, What if you're an engineer. All the engineering jobs are full or people are not hiring engineers. You have no money or capital. You can create a shoe shining machine that would save everyone time. That's a very valuable machine... That makes you valuable as an engineer. But you don't have the money or the capital to do it. All the other jobs don't pay enough for you to save and raise the money on the side. Because they don't pay much, they demand a lot of time and so they don't afford you the time you need to build the shoe shining machine anyway. If you go to a venture capitalist, let's say, Mark Cuban, and tell them your idea. They might like your idea but might not want you to be a part of it. So that venture capitalist, Mark, may kick you off the team and steal your ideas & plans. You don't have the resources to patent the idea but Mark, the venture capitalist, does. So he could patent your idea and exclude you from it. Perhaps you can't patent the idea at any rate because it's more of an improvement on existing concepts rather than a totally new invention. So there you are. You are shining your shoes by hand for an hour even though you know how to build a shoe shining machine that could do it in a minute... You could do crowdfunding but Mark likes to read the crowdfunding sites. What do you do?

    Double VisionDouble VisionOy oldin
  • Can’t afford to mow my lawn...

    WorthrhetimeWorthrhetimeOy oldin
  • I sure wish I had the energy and motivation you do, Patrick.

    George BrownGeorge BrownOy oldin
  • It's called the mastermind concept where you use other people's education, experience, influence and capital to achieve your goals in the shortest time position

    Frank MochFrank MochOy oldin
    • This assumes that they are willing to work for you because you have something that they want but can't get directly for themselves. It's usually money.

      Double VisionDouble VisionOy oldin
  • Not everything is about money.

    My Simple PracticeMy Simple PracticeOy oldin
    • I know. It's like, 'Why are you wasting your time sleeping if you're worth $200/hr?'

      Double VisionDouble VisionOy oldin
  • When the free market system was working, we had businesses that picked our cleaning up at the door, and dropped them off ready to use. Some examples were diapers, shirts, and suits. At this time, we are experiencing Crony Capitalism through corporate takeover of how we think. We are allowing this abuse of capitalism to destroy the entrepreneurial spirit in the masses.

    Linda HockhamLinda HockhamOy oldin
  • Time is worth so much more when you as old me. I can't seem to find it.

    Carla SumnerCarla SumnerOy oldin
  • That’s really looking at things from only one perspective, and a very limited one. Some people find fulfillment, relaxation, and almost a sort of therapy by doing those doing to earth menial tasks. I’m certainly of them. I cannot become blinded by the dollar so much that I forget what activities I actually enjoy doing. Like ironing my shirt, waxing my car, or cooking dinner.

    Terrarium SoundsTerrarium SoundsOy oldin
  • Patrick "The used car salesman" Bet-David

    VikingFitnessVikingFitnessOy oldin
  • How can i find out what i like to do so i can have a better impact in the market? 🤔

    Rs420xπ lRs420xπ lOy oldin
  • In life, you're only as good as to what your options are. Hence, what your bank statement allows you to do. This is motivational speech for the have's.

    Rob LockhartRob LockhartOy oldin
  • need to go pick up shoes, shirts, find parking etc...wastes time. Also not every hour of day you are worth $100, $200. So you are using $27 to iron shirts but then you work real hard in that half hour but no one pays you for that time. IN reality that planning helps you make money in the future but for those with little savings, you need to work hard and iron your shirts...

    Maya LebowMaya LebowOy oldin
  • This sounds good, but I can only see it being useful for people past a certain income. The normal everyday person wouldn't be able to really utilize this in their life.

    Triple fifeTriple fifeOy oldin
  • Snake oil salesmen

    Russel NiggemyerRussel NiggemyerOy oldin