 Okay, you're super charged and you're ready to start your new business. The question is then what on earth are you gonna focus on? You have many different options out there. You can focus on technology, you can focus on e-commerce, you can focus on digital, you can focus on food, you can focus on so many different things and it's a big problem a lot of people have and a lot of times we get caught up what we see on the media. We see Facebook, we see Uber, we see Airbnb, we see Slack, we see these big unicorn juggernauts killing it and crushing it online and we're like, man, I need to do that. However, I like to study significant statistical data, meaning I like to study companies that have a proven track record over the last 40 years and this is the same mythology that Warren Buffett, Charlie Munger, Bill Gates does and all the big wealth managers such as Ray Dalio, Carl Icahn. If you look at these companies that significantly have produced internal rates of return for the investors year after year, time after time, north of 25%, which is amazing. So, you know, if you're looking to start a new business, you got to tie in the aspect of there's there's what you want personally with it, which is your own motivation, which is your own passion, your own way of changing the world and then there is what the world will actually buy and a great way that you can cross over that is doing a Venn diagram where you're going to put your ambitions, your aspirations, what you want to do in one bubble or one circle. The second circle is you're going to put human psychology in there. So I love to look at Maslow's hierarchy. So the business is the light I like to focus on is shelter. People always need shelter, people need clothing, people need security, people need food, regardless of if it's 2016 right now, or if it's 2050, people always need those. So if you're looking at triangle Maslow hierarchy of needs, if your business hits the, you know, bottom foundation, yeah, it's a lower barrier to entry. However, if you stick long enough in it, if you have a proven product and if your marketing is better and your branding is better, that has a long term effect, long lasting returns on that business. And that's why if you look at Warren Buffett, you know, love him or hate him, there's a reason why he invested in Coca-Cola. It's the most powerful brand in the world. It's a drink. It's a, you know, it's a food technically. It's highly addictive, you know, high fructose corn syrup. It's a no brainer. I think it's a brilliant move on his end for returning his fiduciary responsibilities for Bertha Hatchaway to return his investor's money. Also, if you look at his other types of investment strategy, he invests in insurance. He bought Geico and I believe Geico owns more than 200 or 400 subsidiary insurance, insurance companies below Geico. We always need insurance, regardless of what's happening with technology, what's happening with geopolitics, people need to be covered, life insurance, car insurance, health insurance, body insurance, you know, celebrities have their butts, their boobs, private parts all insured, just if something happens because it is an asset, they make money off of that. So if you're looking at that Venn diagram once again, put your passions and what you want to change in one circle. The second circle is Mazel higher care needs to put that in and finally the third circle is the what if circle. So look at what's happening right now. And what if this this rule change in the government? What if I started selling my product in Singapore instead of United States? What if I sold my product in Europe? What if I changed the pricing on my product? What if I structured my product or service like this? These are the variables. The whole idea is with that Venn diagram. So there's three different circles is you want to see what overlaps in the middle and that's usually a sweet spot, you know, it's great, you know, going back to the original part. It's great that you have ambitions to go out there and create amazing technologies, go out there and really transform the world. However, you know, let's be realistic over here. There's a reason why certain companies last a long time. I mentioned Coca-Cola. Let's talk about Costco. Let's talk about certain real estate companies. That's a real big behemoth right now. I think Coca-Cola is one of them. It's been around since 1890, I believe. So it's been a while. And, you know, even everything that I do going forward is focusing on the Maslow hierarchy of needs, food, shelter. For me personally, my big plan in the future, which will be cybersecurity. And, you know, time and time again, you hear it every single day. For example, I believe last I checked, there is more than 10.5 million hacks per day online. 10.5 million hacks. Security is a big one. Security on your phone. Banking security. That's one big fan of blockchain coming up. Financial security. Safety security. You know, think about your kids in the future. That's a big concern. I want to have kids in the next two years. I'm trying to figure out what is the safest and smartest way to introduce technology in their lives. So look at your business, what you're doing right now and ask yourself, does it land in any of these Maslow hierarchy of needs? If it's some kind of skeer technology that does random things, I don't think so it's going to last that long. And at the end of the day, there's a couple of reasons why you're in business. First of all, you have a passion to transform the world. You have a knowledge. And you're a little bit crazy because you got to be a little bit insane to start a startup. Second of all, obviously you need a financial return. I would say, you know, most successful startups up there, the ones that really get a, you know, get the momentum is they got funding. You know, I'm sorry, these days you need funding. There's no, there's no, you know, create a business out of thin air. If you're talking about a real business and there are a few exceptions, obviously for every rule, there are a few exceptions. However, if you're looking to really start a big business, let's say, you know, 10 million plus, which isn't really that big, but still 10 million plus is great. You need funding. You need to pay, you know, payroll. You need employees. You need cash to burn. You need to figure out what's working. So for that, you need the mula, right? And to get funding, these investors are not stupid. They look at your product. They look at the global landscape. They look at your team. They look at historically speaking, we're there and are there currently companies and brands selling something similar to what you want to do. If the answer is no for the most part, 99.99% of the time, they will not invest in you. So do yourself a favor, look over what you're doing currently and ask yourself, does it land in the mazal hierarchy of needs? If the answer is no, maybe it's time for you to pivot, not cancel, but pivot. And pivoting is really smart when it comes to business and startups because that shows that you're evolving. That shows that you have a growth mindset. That shows that you're willing to take in new information, process this information, and then figure out the right course of action with that information. I love to hear your thoughts on what kind of problems you're having with your startups right now. Also, I'm actually curious as to what is your biggest hurdle with startups? Because a lot of people have different hurdles. Some people say fear, some people say lack of motivation. Others say money. At the end of the day, each of us have our own weaknesses and strengths. So from you, I want to know what your weaknesses and what your strengths are. Comment below this video. Anyways, I will see you guys later and have an amazing, amazing Sunday night. Adios.