Oh, no, Guys, welcome back to my channel today.

I have a very special guests, my beautiful, smart kind husband and they were doing a really interesting video because I get so many questions about Gary Gary's entrepreneurial journey about business and finance in general.

So I got wind on bringing this little unicorn in and just ask him about your questions and I posted a post on instagram asking you guys, if you have any specific questions I wanted to say a huge thank you to scale share for sponsoring this video.

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Okay, so now let's get to the question.

See us.

Think you need a university education to go into business.

Well, I don't have a university education, and I definitely think that education is valuable, but I don't think that especially in today's time, where there's so much information out there and you can really learned things on your own hands.

Scale share.

I think any experience in life is good.

I think the formal education system is dated as of now.

So I think that when I went to school, which was his actual over 20 years ago, there was a lot of stuff.

There was a lot more relevant, and it used to be that the key to success and the key to business successes, education, education was always the way out.

But I don't necessarily think it's the case now because what's different now versus then was that we have social media.

The world is a much smaller place.

We're communicating things a lot more so in my pin.

You don't necessarily have to go to university, but I think it will help.

Any experience will help because informal education, I feel that you learn how to learn.

You learn about politics, about what?

Not to say what to say.

So there's a lot of time.

Management is superficial aspects of formal education, whether it's university or college or even high school, whatever it may be that are important.

But I've met way too many successful entrepreneurs who didn't go to university to say it's crucial.

But I've also met a lot.

If you could get your younger self advice about starting a business, well, just from what I recall going into my first.

What I call my kind of real business, as opposed to like the hustles do, knows a kid to make money, I would say to aim higher.

I feel that I became complacent in my business as adept at the point where after a few years I was making enough money that I considered myself okay, the advice I would go back and give myself is that don't kick back and start enjoying your success that the early stages that's actually the time to double down and look for more opportunities.

And if you can't throw the existing business model that you have, go outside of your business model.

Look for investments.

Look for other businesses.

Look how you could leverage your existing infrastructure that you have in your business.

That's what I will suggest to do.

So don't get too comfortable.

And you have to always, always stay hungry because if your business isn't growing, it will eventually employ itself.

Can you, like, just tell a little bit about kind of your business history?

My first job after my first year of university, I was pumping gas.

I was making $7 an hour before that.

When I was 15 I was $3.65 with Donald, and they eventually fired me because they kept demoted me.

The moment there is no I started off with the cashier at the highest position, and I was so good that they demoted me to hamburgers.

Hamburgers was the second most prestigious position.

This was like in the eighties, right, so then they demoted me from hamburgers that you can nuggets.

Aerial journey began when when everybody kept firing me from even, like, the crappiest jobs.

Because I'm completely unemployable.

I have to give, like, kudos to McDonald's that they tried.

They Yeah, they didn't fire me anyway.

They kept demoted me.

So then my first, My first job in the summer at university.

I worked at a gas station downtown not far from here, actually.

And I pumped gas and they're making the big money, making $7 an hour.

I was like hostile, hostile, trying, get tapes, you know, clean the windshield and do all that stuff.

And then, yeah, I just realized that I wasn't gonna work out either.

During that summer, I had a friend of mine who was selling stuffed animals on street corners.

And what he would do is he became really, really good at winning them at the fair.

So he just became a master of winning.

So he was doing that.

I was like, OK, great.

I would do is he would sit at street corners and he would sell.

He actually employed me for a couple of weeks, and you he would put me on the quarter and I would sit there and I saw this stuffed animals at the end of the day common.

I'd see I'm just being water money and he take out my little piece and you say you, Gary, good job.

Like we'll buy that.

I did everything.

My inventory is about this.

Is that like, All right, so then I ventured into the stuffed animal business myself.

But my hand eye coordination is about as good as yours.

So I instead of going and trying to win them, I borrowed a few $1000 I bought a 25 year old carbo.

I went to the fair and I got my hands on one of my look at the tag, and I saw who manufactured them.

So then I call the manufacturer.

They were luckily in Toronto.

I went over there and I said, Hey, you know much about the legit.

How much are they?

And the guy was.

Okay, Well, this one is, like, three box three bucks.

Cool.

I think I could sell for 10.

Cool.

So I bought a bunch of those and then I bought these other big monkeys.

That's so And I'm sure you're Oh, well, no, but I just talking, right?

I saw the other guy was doing it.

My only interest was that I just went.

And instead of spending what's that Spending months trying toe hold my skills to win this stuff at the fair?

As it's true, I'm just gonna go on by, took a shortcut instead of having to build up his inventory.

Plus, when you're when you're trying to win it, you don't control what you get.

So I started suspecting that kid.

What inventory?

I think you do well, that white monkey that will do well, that black dog that will do well, that purple dinosaur little Barney 21.

And I tell you to this day, if I set up something with all 3/4 were making stupid Jake and Ben.

No, it's too early.

I tried to convince your brother your brother that he's concerned that somebody would see them doing it, and that was the start of it.

Have you break into the industry that is overflowing with other competitors?

Every industry of orbited.

I was never the first market, but we were always just way just did whatever we had to do.

I mean, there's no secret You just have to do your research, see what those other people do and how you can make it better.

Yeah, I never want to reinvent the wheel won't improve it.

So I always look for concepts that have already been proven out.

I can see things that are already doing well already at scale.

And then once I identify that, then I go in and I used a handful of the businesses that I've identified in a certain industry used those as blueprints, and I will try and improve on those very similar when you're doing YouTube.

Yeah, I mean, when I started, it's like it's a such a crazy industry to so many people in it already.

But, you know, we were sitting together, and once we decided, you know, this is a business, and this is our next business venture.

Gary's like Okay, what's special about you, like, what are your pillars?

What are you bringing to the table?

Anything like we started identifying what it iss.

And that's kind of what Bill, you know, the brand and what we wanted to put out there.

Is it better to just start because they started.

Where should you wait until every detail No, don't start there will never be perfect.

It's like having kids is never perfect.

Yeah, you have to start putting a lot of work, learn from trying to Lord learned from execution, iterated on improvements and go back to executing against used to constantly be executing and iterating executing period.

How do you know where there's a risk that's worth taking?

A second part of that?

How do you know when it's time to kind of get an idea?

We're going a risk that's worth taking.

You have to ask yourself, What else do you have going on?

If you've got nothing else going on, go ahead and take that risk.

Risk is different, depending on the stage of life.

You're right if you have other responsibilities if you're but if you're not married, no responsibility.

So different stages of life of different you know, different risk tolerance.

Failing is not a waste.

Failing is your education.

That's like where you learn so at that stage in life, definitely go for if you're at that stage where you do not have immediate dependence or financial responsibilities, the only thing you're risking is your good times at the picturesque is not doing anything if you don't want to be an entrepreneur, and if you're sitting around waiting for that perfect moment, it will never come.

So the risk actually wasting the most precious currency, which is time you'll never be the risk, is doing nothing.

That's really how do you know when to give up?

That's a good question, because how many, like how many?

You know, if you follow motivational people like never give up, and this is how long it took in.

If you want to be an entrepreneur, giving up doesn't exist.

You have to pivot.

So there's a devastation has been giving up in pity, pivoting you do consistently her little wisdom.

Yeah, pivoting you could do you can and should do all the time with you.

There's types of content that you put out that doesn't work.

You pivot into different kinds of content.

I mean, you've you've you've given up on this on YouTube.

No, you've given up, let's say on doing a segment that didn't work that your audience didn't respond to, so you can give up on that, not giving up your pivoting whereas giving up meeting like throwing, you know, throwing everything away, shutting everything down, going home.

Basically, you're an entrepreneur, Pivot.

There is no such a giving up.

How do you decide what to invest time and energy into it?

Are you guys ever scared of letting go of some dreams to pursue?

We identify what we want to achieve, and that's when we decide what is the best thing that will bring us to that goal.

So our goal is to have peace.

Our goal is to many my stress in her life.

A whole healthy, you know, spend more time with the kids.

So what can we do now That will bring us closer to that?

How do you deal with rejection?

It's actually a business, and you're starting out.

If you know you have to make 50 presentations to get the one sale, then you know that that rejection is just one step closer to your goal.

So you just You keep doing that The rejections.

You you just have to have a thick skin.

Forget about it.

You know that you are now that much more closer to achieving that That thing that you want making that sale or achieving whatever it is, it's just reality.

The thing is, you can't fight reality.

The reality is that you're going to get rejected if you have a problem with being, we're getting rejected.

Either get out of business or learn to develop a thick skin.

You have to control your thoughts and put it and learn from the rejection.

Why did you get rejected?

What did you do wrong with going into that meeting?

What could you have done better?

Take the benefit out of it, which is the lesson, and you move on to the next one.

If you can't handle the rejection, just move on to something else that I have you in a situation that's every moment of business.

That's every moment of life again.

It's it's, it's it's acceptance is you have to surrender to the fact that everything is in chaos at all times, and the only constant is the fact that everything is always changing.

So as soon as you accept that and I had a heart, it's not.

It's a lot easier said than done, and I still have a hard time accepting the reality of some situations, but you just bear down and you and you get through it.

You you accept that the changes in the chaos to exist.

How do you start investing for yourself?

You set yourself up for so I think with the investment because I saw a lot of questions.

They come from a lot of girls that are, like in college that have debts to ask about how to deal with that on stuff like that.

So I actually made a video with generally.

Simmons, who is a financial advisor, actually also wrote a book I'm going to Lincoln below.

But she answered a lot of those questions.

So if you're a young girl and you want to learn how to make a budget, how to deal with that you out of school and you want to figure out, you know, if you need to invest what you need to invest in, she gave so much amazing tips.